Angola: IMF considers positive oil price stability

Head of IMF mission to Angola, Ricardo Velloso (Photo: Rosário dos Santos) Head of IMF mission to Angola, Ricardo Velloso (Photo: Rosário dos Santos)

Ricardo Veloso, who was speaking at the end of a preliminary meeting with members of the Angolan government’s economic team, said however that the IMF is concerned with the economic growth of Angola that is still below the desired levels.

Among the several topics to be discussed with the executive’s team include the organisation of public accounts, which according to Ricardo Veloso, the mission has received a series of information about the country’s economy including the implementation of fiscal policy for this year and a copy of the budget proposal for 2017.

A meeting between IMF and Angolan government (Photo: Rosário dos Santos)
A meeting between IMF and Angolan government (Photo: Rosário dos Santos)

A delegation from the International Monetary Fund (IMF) is paying a working visit to the country from 03 to 17 October, in accordance with Article IV of the Agreement of the referred financial institution.

The agenda of the IMF mission includes, among others, discussions with the Angolan authorities on issues related to the evolution of the fiscal and public debt, projections of the economic indicators for 2017, estimates for the growth of the oil and non-oil sector.

The latest developments in the banking sector and the assumptions for the General State Budget (OGE) for the fiscal year 2017 also include the agenda of this mission.

The IMF mission will also discuss with the government’s economic team aspects related to government operations in the securities and foreign exchange market, management of international net reserves, treasury management, including the evolution of accounts to pay and arrears.

Economic team meets IMF delegation (Photo: Rosário dos Santos)
Economic team meets IMF delegation (Photo: Rosário dos Santos)

Balance of payments projections, development of non-oil taxes, recent measures, medium-term outlooks and plans and implementation of the Public Investment Programmes (PIP) are other issues to be analysed in the meeting.

The meeting was attended by the Angolan ministers of Finance, Acher Mangueira, of Economy, Abraham Gourgel, of Planning and Territorial Development, Job Graça, of Trade, Fiel Constantino and the governor of the National Bank of Angola, Walter Filipe.

Source: Angop