{"id":22059,"date":"2022-12-06T07:07:44","date_gmt":"2022-12-06T07:07:44","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/all-news\/imf-optimistic-about-macroeconomic-progress-in-angola"},"modified":"2022-12-06T07:07:44","modified_gmt":"2022-12-06T07:07:44","slug":"imf-optimistic-about-macroeconomic-progress-in-angola","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/imf-optimistic-about-macroeconomic-progress-in-angola","title":{"rendered":"IMF optimistic about macroeconomic progress in Angola"},"content":{"rendered":"

Africa-Press – Angola. <\/strong><\/span>The International Monetary Fund (IMF) highlights advances in the Angolan Public Accounts with adjustments made in the foreign exchange market and fight against inflation, said yesterday, in Luanda, the executive director of the Board of Directors that represents the organization in Angola, Willy Nakuniada.<\/b><\/p>\n

Speaking to the press, after the meeting with the Minister of Finance, Vera Daves, in the context of consultations under Article VI of the IMF statutes for Post-Financing follow-up, the official said that despite the Fund recognizing the progress made by the country to overcome the problems and efforts to reactivate the economy, the main focus of the IMF visit is to gather information to assess whether the discussions are in line with the intended objectives and seek alternatives to be explored for the economic diversification agenda.<\/p>\n

“At the moment the authorities are satisfied with the results of the structural reforms. We first need to collect the necessary information so that at the end of the visit we can be able to give our opinion and possible recommendations, if necessary”, said the official.<\/p>\n

Lower inflation<\/b><\/p>\n

In turn, the Minister of Finance, Vera Daves de Sousa, stressed that with this IMF “surveillance and technical support” visit, the Angolan government is seeking alternative solutions to speed up some reforms and further lower the inflation rate.<\/p>\n

Vera Daves also informed that the State will share the most recent developments and its perspectives with the IMF, helping us to think about how we can accelerate some of the reforms, to generate more jobs and that “efforts can have effects in the day-to-day of individuals and families”.<\/p>\n

“It’s not a funded program. It’s simply a follow-up mission that takes place every six months and allows for advice, technical assistance in various aspects considered relevant with a view to defending what good we achieved in the program we had with the IMF and in the in the sense of helping us to think about how we can speed up some of the reforms\u201d, he stressed.<\/p>\n

Questioned about possible funding in the future, the official said that, at the outset, the need for funding was not identified, but, currently, the Executive is working with other multilateral financial institutions, for the logic of financing projects and budgetary support, such as the World Bank and French Development Agency and the African Development Bank.<\/p>\n

As for the possibility of removing fuel subsidies, Vera Daves informed that technical discussions continue with the IMF and the World Bank, but so far no consensus has been reached.<\/p>\n

He stressed that the concern remains regarding the potential social impact of this removal, “what we are doing with these two financial institutions is analyzing possible mitigation measures, which could be implemented, if we decided to move forward”.<\/p>\n

The Joint Mission of the International Monetary Fund (IMF) runs from November 28 to December 15, within the scope of the Post-Financing Program monitoring day on regular surveillance framed in Article IV of the Fund’s Constitutive Agreement.<\/p>\n

For More News And Analysis About Angola<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Angola. The International Monetary Fund (IMF) highlights advances in the Angolan Public Accounts with adjustments made in the foreign exchange market and fight against inflation, said yesterday, in Luanda, the executive director of the Board of Directors that represents the organization in Angola, Willy Nakuniada. Speaking to the press, after the meeting with […]<\/p>\n","protected":false},"author":84,"featured_media":22058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,244],"tags":[233,337,329],"class_list":["post-22059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-to-homepage","tag-africa-press","tag-africa-press-angola","tag-angola"],"yoast_head":"\nIMF optimistic about macroeconomic progress in Angola - Angola<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/angola\/all-news\/imf-optimistic-about-macroeconomic-progress-in-angola\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF optimistic about macroeconomic progress in Angola\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Angola. The International Monetary Fund (IMF) highlights advances in the Angolan Public Accounts with adjustments made in the foreign exchange market and fight against inflation, said yesterday, in Luanda, the executive director of the Board of Directors that represents the organization in Angola, Willy Nakuniada. 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