Africa-Press – Angola. The International Monetary Fund (IMF) considered recently Angola’s ability to service its debt repayment adequate, despite being subject to increased risks related to lower oil prices on the international market compared to 2024.
Angola’s debt, incurred under the Expanded Arrangement of the IMF’s Extended Fund Facility, which ran from 2018 to 2021, is estimated at approximately US$4.4 billion. Out of this amount, the country had repaid nearly US$176 million by 2024, with an expected repayment of US$2.8 billion (70% of the total loan) by 2028.
According to the IMF statement published on its website, the IMF Executive Board Directors, who completed the 2025 Post-Financing Review (PFA) with Angola this week, praised the Angolan government’s willingness to adjust policies to maintain the country’s debt sustainability.
They also recognized Angola’s stronger-than-expected economic performance in 2024, with a slowdown in inflation and a recovery in the oil sector, as well as the revitalization of non-oil growth.
The IMF officials also agreed on the need for the exchange rate to serve as a central buffer against shocks, with limited, rules-based exchange rate interventions to facilitate fiscal adjustments in the face of oil price shocks and preserve external reserves.
They also noted that Angola’s economic performance was strong in 2024, with real GDP growth reaching 4.4%, driven by oil production and the revitalization of non-oil sector activities.
The IMF authorities also noted that Angola’s current account surplus increased to 5.4% of GDP, while gross international reserves rose to USD 15.8 billion (equivalent to 7.7 months of import coverage), due to the recovery in oil exports and the reduction in imports.
Inflation, while still high at 19.5% in July 2025, has fallen from its peak of 31.1% in July 2024 and is projected to continue to decline gradually in the medium term, they acknowledged.
They added that the public debt-to-GDP ratio fell to 60% in 2024, supported by nominal GDP growth and sustained primary fiscal surpluses.
However, they added, Angola faced a decline in oil revenues and a tightening of external financial conditions in the 2025’s first half.
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