'IMF ready to help Angola address economic challenges', says deputy MD

Luanda, Angola (PANA) – The Government of President João Manuel Gonçalves Lourenço has taken important steps toward improving governance and restoring macroeconomic stability in Angola, according to Mr. Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF).

Responding to a request by Angolan authorities for IMF staff to initiate discussions on an economic programme that could be supported by the Extended Fund Facility (EFF), Mr. Zhang on Wednesday issued a statement affirming the IMF’s readiness to assist the southern African country in addressing its economic challenges.

“The request follows an IMF staff mission visit in Luanda during August 1-14, 2018 and an initial letter requesting a programme to be supported by a Policy Coordination Instrument (PCI), said the IMF Deputy Chief.

“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 Programme and in the National Development Plan for 2018–22.

“We expect to initiate programme discussions with the Angolan authorities as soon as feasible,” said the statement.

The EFF was established to provide assistance to countries experiencing serious payments imbalances because of structural impediments; or characterized by slow growth and an inherently weak balance of payments position. It provides assistance in support of comprehensive programmes that include policies of the scope and character required to correct structural imbalances over an extended period.
-0- PANA AR 22Aug2018

22 august 2018 16:55:58




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