IMF Staff Country Reports

Angola: First Review of the Extended Arrangement Under the Extended Fund Facility, Requests for a Waiver of Nonobservance of a Performance Criterion, and Modifications of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Angola

June 19, 2019

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Angola: First Review of the Extended Arrangement Under the Extended Fund Facility, Requests for a Waiver of Nonobservance of a Performance Criterion, and Modifications of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Angola, (USA: International Monetary Fund, 2019) accessed November 26, 2024

Also available in: português

Summary

A 36-month Extended Arrangement under the Extended Fund Facility (hereafter the “arrangement”) was approved last December, with access of SDR 2,673 million (361 percent of quota). Lower international oil prices would reduce oil revenues, widen the current account deficit, and stymie growth recovery. The authorities are implementing a proper policy response to the weakened outlook, through a conservative supplementary budget for 2019, alternative sources of cheaper financing, and progress toward a more flexible exchange rate regime.

Subject: External debt, Foreign exchange, Prices, Public debt

Keywords: Arrears, Authority, CR, East Africa, Expenditure envelope, Global, IMF's Lipton, ISCR, Liberalization process, Oil prices, Payment order, Price, Privatization law, Reform program, SDR, Southern Africa

Publication Details

  • Pages:

    94

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2019/170

  • Stock No:

    1AGOEA2019001

  • ISBN:

    9781498320481

  • ISSN:

    1934-7685

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