Africa-Press – Angola. The fall in crude oil prices has increased the likelihood that Angola will need a loan from the International Monetary Fund (IMF), the finance minister said. In an interview with Reuters on the sidelines of the spring meetings of the International Monetary Fund and the World Bank in Washington, Vera Daves said the government was carrying out stress tests to assess the impact on the country’s finances.
Sub-Saharan Africa’s second-largest crude oil exporter based its 2025 budget on an oil price of $70 per barrel, but Brent crude futures were trading below $60.
According to the same source, this is considered the lowest level in four years, with the contract closing at $66.91 last Friday, following the tariffs announced by US statesman Donald Trump on 2 April.While a smaller drop in oil prices could result in a freeze on some spending, a drop to 45 would likely require a supplementary budget, Vera Daves added.
“The government is working on measures to mitigate the impact of lower oil prices on revenue, make tax administration more efficient and increase enforcement of property taxes,” she concluded, adding that “the country would like to tap international capital markets again, but has no plans to do so at this time.”
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