Angola Will Not Resort to IMF’s Financial Assistance

Luanda — The Angolan government reaffirmed last Monday in Luanda that it will not resort to technical assistance from the International Monetary Fund (IMF), due to its recent efficient economic performance and other sources of financing.

A press communiqué from the Finance Ministry on the “Fiscal perspective and indicators of the macroeconomic performance for the first semester of 2016”, which has reached ANGOP, states that “the country will continue to hold dialogues to share opinions in the domain of its economic policy (…)”, adding that despite this option the government will continue to hold talks with the IMF for the continuation of the technical assistance programme, reason why a delegation from that international institution is expected back in Angola next October.

In the visit made to Angola last June, reads the note, the IMF delegation had “frank and constructive dialogue with the Angolan Finance Ministry.

The Angolan government has recognised the suggestions made by the IMF team on the reforms needed for the protection and diversification of the country’s economy.

The note also explains that the decision to get financial assistance from the IMF had been taken in a context in which the price of the country’s main commodity, crude-oil, was falling steeply in the international market, which the prevision of reaching USD 20 per barrel.

The note states also that the outlook is now more encouraging with the recent rise in the international price of crude-oil.

However, states the note, the Angolan Executive continues to show commitment to executing its structural reform programme.