Ver Angola


IMF highlights Angola’s “progress” and says it is available to support economic diversification

The International Monetary Fund (IMF) highlighted Angola's "progress" during the duration of the financial assistance program for the Portuguese-speaking country and expressed its willingness to provide technical support to Angola within the scope of its economic diversification agenda.

: Yuri Gripas
Yuri Gripas  

The executive director of the IMF board of directors for Africa, Willie Nakundyada, in Luanda, noted Angola's progress, especially in the areas of combating inflation and exchange rate adjustment, after the financial assistance program that ended in December 2021.

Nakundyada, who is part of the IMF joint mission working in Angola for the next two weeks on a monitoring day of the post-financing programme, underlined the need for the visit to assess the country's current macroeconomic framework.

"Today's meeting was an initial one, within the framework of routine verification visits, to assess how the country's macroeconomic situation is, in various policy areas and see how the IMF can continue to provide technical support and the discussion was initial", said the person in charge.

But, he underlined, for two weeks they will be “seeing how the Angolan economy is doing, how the IMF can help and how the authorities should position themselves within the framework of the ongoing reforms”.

Speaking at the end of the meeting he held with the Minister of Finance and other authorities of the country, at the Ministry of Finance, in the center of Luanda, he also signaled the satisfaction of the body he represents with the ongoing reforms in Angola.

“Our task is to listen to both sides, the IMF in the country and the Angolan authorities and find out if the discussions are in line with the objectives, however, we are satisfied with the progress that Angola has made especially during the [financial assistance] program” , noticed.

He highlighted the fight against inflation and the adjustments made in the foreign exchange market, as remarkable measures, which "are having results".

“Look at the IMF as a doctor who needs information from the patient, what will happen in these weeks is that the IMF will request data from the authorities and when it has the data, it will take a picture and make recommendations”, he assured.

Asked about Angola's possible request for a new financing program, the IMF executive director said that "at the moment the Angolan authorities are satisfied with the outcome of the program that ended in December last year".

“In this sense, taking into account the agenda of diversifying the economy, they look for technical support for reforms on the structural side of the economy, at the moment the [Angolan] authorities are not looking for financial support”, concluded Willie Nakundyada.


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