Mr. Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement today:

“We have received a letter from the Angolan authorities for IMF staff to initiate discussions on an economic program that could be supported by the Extended Fund Facility (EFF). “The request follows an IMF staff mission visit in Luanda during August 1-14, 2018 and an initial letter requesting a program to be supported by a Policy Coordination Instrument (PCI).

“The Government of President Lourenço has taken important steps toward improving governance and restoring macroeconomic stability. The IMF stands ready to help the authorities address Angola’s economic challenges by supporting their economic policies and reforms based on the Government’s Macroeconomic Stabilization Program and in the National Development Plan for 2018–22.

“We expect to initiate program discussions with the Angolan authorities as soon as feasible.”