"João Lourenço's reforms are pleasing the International Monetary Fund (IMF)", writes the Economist in the title of the article published this Friday in the weekly magazine, which has the subtitle "What about ordinary Angolans?".
In the article, it is written that the IMF, "which since 2008 has agreed to lend US $ 4.5 billion to Angola, is encouraged by fiscal policies", and adds that this multilateral financial institution also agrees with the privatization program .
Quoting the Finance Minister Vera Daves several times, the article presents the main macroeconomic indicators of Angola, pointing out the "monumental task" of the governor to balance public accounts and recalling that "the low prices and the decrease in oil production originated a collapse in GDP and caused the debt to skyrocket, putting GDP per capital at about a quarter of the value of 2014 ".
The Finance Minister says she has gained "breathing space" with the individual debt renegotiation with the various creditors, namely China, and revealed that it was the IMF that recommended caution in budget cuts: "The IMF told him to be calm with some areas and protect funding for health and education, which, given the Fund's reputation for promoting austerity, was a 'positive surprise', says the minister, "the article reads.
After reviewing the reforms, in a praiseworthy tone, the article looks at the consequences for Angolans, not without first asking the minister if the Popular Movement for the Liberation of Angola (MPLA) is still Marxist. "In our hearts, yes; in reality, no," she replies, laughing.
Regarding ordinary Angolans, the Economist writes that "the majority have not yet seen great benefits" from these reforms, exemplifying with inflation at 25 percent and protests from people, who "want to end the suffering, but also want the President to be up to the promises against corruption ".
This fight against corruption, says the magazine, "for many Angolans it seems to be selective and excludes people close to the current government, which, together with the brutal repression of some protests, suggests that there are limits on how far the MPLA can change".
President João Lourenço, concludes in the published article, "consolidated his position in the ruling party, pleased foreigners with some of his economic policies, but it is difficult to remain popular with ordinary Angolans when the price of food soars; the danger for the President is that, having raised expectations, he cannot, or does not want to, fulfill them ".
