Africa-Press – Angola. The Government of Angola and the United Nations held the first consultation on graduation, as part of the improvement of the Monitoring Mechanism of the process of upgrading from Least Developed Countries to Middle Income Countries.
The meeting, in virtual format, served to evaluate the measures that are being implemented by the Angolan Government for the smooth transition strategy, with a view to overcoming the criteria of social development and the vulnerabilities of economic diversification, which associated with the shock of the price of oil in the international market and the Covid-19 pandemic will have weighed on the country to obtain an additional 3-year extension of graduation, initially scheduled for 2021.
The country’s first consultation focused on addressing follow-up actions, namely the specific challenges and possible technical support from the UN system to analyze any real impact of Covid-19, particularly on the main drivers of the economy; strengthen negotiation capacity with trading partners; various preferred instruments; technical barriers to trade, triple exemptions, exemptions from trade facilitation agreements, and more, to improve access to high-frequency data and will drive country-specific analysis.
According to the Permanent Mission of Angola to the United Nations, in New York, the Angolan side pointed to the implementation of the Program for Strengthening Social Protection – Kwenda, which, to date, has already benefited more than 300,000 families with Social Monetary Transfers, as well as the process of formalizing the informal economy, as part of the Government’s actions in light of the National Development Plan 2018-2022, with a view to surpassing social and economic development indices.
The document that Jornal de Angola had access to yesterday mentions that the UN Development Policy Committee praised the efforts of the Angolan Government aimed at the productive capacity of the country, with the implementation of active and demanding trade policies within the framework of the Economic Partnership Agreement. -SADC and the African Continental Free Trade Area, to build foundations for resilience and face future oil price shocks.
He recommended Angola to use the new model of the Expanded Monitoring Mechanism for the elaboration of the Smooth Transition Strategy on the four key economic indicators, namely, the price of oil, the exchange rate, natural disasters, health, among others. The note stresses that Angola has until mid-year to submit the final report on the country’s Smooth Transition Strategy.
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