Africa-Press – Angola. The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, stated in Luanda that access to financing for fluid private activities is fundamental for the diversification of the Angolan economy.
Speaking at a meeting with students from the Catholic University of Angola (UCAN), she emphasized that diversification implies thinking about improving the domestic market and also about interconnection with neighboring markets.
She added that Angola’s domestic market is still “not as dynamic as it should be,” with unemployment being part of the problem.
“We heard from the business community yesterday that it is still very difficult for a small farmer to access financing to make their agricultural holding more productive and sustainable,” she said.
This situation, she continued, is characterized by the existence of many people without the means to actively participate in the process of production and economic diversification.
Another reason, she pointed out, is that the banking system “is not well developed, as savings are not easily transformed into private capital.”
According to Kristalina Georgieva, to have a diversified market economy, it is important to have property rights and a diversification strategy, such as the one created by the Government, pointing out that Angola can improve in policy research, analysis of strengths, and policies that support economic diversification.
The Managing Director of the International Monetary Fund is on an official visit to Angola between the 19th and 21st, before traveling to Johannesburg, where she will participate in the G20 Summit.
Angola and the International Monetary Fund have a relationship marked by cycles of rapprochement and enhanced cooperation, following the economic and political evolution of the country since achieving National Independence.
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