International Monetary Fund (IMF) Executive Board Concludes First Post Financing Assessment Discussions with Angola

Successful reforms coupled by firmed oil prices supported the Angola’s economic recovery in 2021–22, however, declined oil production has led to significant challenges to the economy

On August 29, 2023, the Executive Board of the International Monetary Fund (IMF) concluded the Post Financing Assessment (PFA)[1], and endorsed the Staff Appraisal on a lapse-of-time basis[2]. Angola’s capacity to repay the Fund is adequate, despite elevated risks. Successful reforms coupled by firmed oil prices supported the Angola’s economic recovery in…

Coronavirus - Angola: Confronting the COVID-19 Pandemic and the Oil Price Shock

Only months after the conclusion of the second review in December 2019, the COVID-19 pandemic reached Angola, ushering in economic and health crises

The COVID-19 pandemic and the shock from the falling price of oil have put severe pressure on Angola since the country’s second review under the Extended Fund Facility (EFF) in December 2019. Only months after the conclusion of the second review in December 2019, the COVID-19 pandemic reached Angola, ushering…

Angola Implements the International Monetary Fund (IMF)’s Enhanced General Data Dissemination System

The National Summary Data Page (NSDP) is maintained through an open data platform provided by the African Development Bank and the IMF’s Dissemination Standards Bulletin Board

Angola has implemented the recommendations of the IMF’s Enhanced General Data Dissemination System (e-GDDS) by publishing critical data through a “data hub” — National Summary Data Page (NSDP). The page aims to serve as a one-stop-shop for essential macroeconomic data on national accounts, government operations and debt, monetary and financial…

Statement by International Monetary Fund Deputy Managing Director Tao Zhang on Angola

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…

Statement by International Monetary Fund (IMF) Deputy Managing Director Tao Zhang on Angola

Statement by International Monetary Fund (IMF) Deputy Managing Director Tao Zhang on Angola:  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…

International Monetary Fund (IMF) Staff Completes 2018 Article IV Consultation Mission to Angola

Annual inflation is projected to remain high, reaching 24¾ percent by end-year reflecting, inter alia, the effect of the kwanza depreciation

The Angolan economy is experiencing a mild economic recovery. The new administration is rightly focused on restoring macroeconomic stability and improving governance. Improving the business climate is critical to tackle impediments to economic diversification and growth. An International Monetary Fund (IMF) team led by Ricardo Velloso visited Luanda from March…

International Monetary Fund Managing Director Meets Angola’s President João Lourenço

The meeting was an opportunity for the Managing Director to commend President Lourenço for the recent policy announcements

IMF Managing Director Christine Lagarde and President João Lourenço met today (January 23, 2018) on the margins of the World Economic Forum in Davos. The Angolan economy is enjoying a mild recovery, but significant imbalances remain. The authorities are fully aware of the challenges and have announced policy actions designed…

IMF Team Completes Staff Visit to Angola

An International Monetary Fund (IMF) team led by Ricardo Velloso visited Luanda during November 6-15, 2017, to prepare the groundwork for the Article IV consultation mission expected in early 2018

The Angolan economy is enjoying a mild recovery this year but significant macroeconomic imbalances remain. The new Government is fully aware of the imbalances and has approved a plan to begin addressing these challenges. An International Monetary Fund (IMF) team led by Ricardo Velloso visited Luanda during November 6-15, 2017,…

IMF Executive Board Concludes 2016 Article IV Consultation with Angola

On January 23, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Angola.  The oil price shock that started in mid-2014 has substantially reduced fiscal revenue and exports. Growth was estimated to come to a halt in 2016, with the non-oil sector contracting…

Statement by IMF Managing Director Christine Lagarde at the Conclusion of her Meetings with the Heads of States of Central Africa

Ms. Christine Lagarde, Managing Director of the International Monetary fund (IMF), issued the following statement today in Yaoundé after her participation to a Heads of States of Central summit: “Discussions during today’s summit in Yaoundé today have been very fruitful. We discussed the economic impact on the six Central African…