Angola to negotiate a $ 4,500 million deal with IMF

Minister of Finance, Archer Mangueira, during the opening of the Consultative Council of MINFIN

Minister of Finance, Archer Mangueira, during the opening of the Consultative Council of MINFIN

If the negotiations are successful, the amount will be available in three tranches of US $ 1,500 million (1,300 million euros) per year.

Under the program of assistance requested by the Government, Angola will discuss with the International Monetary Fund (IMF) a financing program of US $ 4,500 million (3,910 million euros), the Angolan Finance Minister said.

Quoted, this Friday, by the Angop news agency, Archer Mangueira spoke to Angolan journalists on Thursday night, in Berlin, at the end of the two-day official visit by the President of Angola, João Lourenço, at the invitation of the German Chancellor, Angela Merkel.

According to Archer Mangueira, if Angola reaches an agreement with the Bretton Woods institution, the amount will be made available in three tranches of 1,500 million dollars (1,300 million euros) per year for the implementation of the Macroeconomic Stabilization Program (PEM) defined by the Angolan Government.

The Angolan Finance Minister said that the Extended Fund Facility (EFF), which comes after the agreement negotiated by the Angolan government and the IMF in 2008, is fundamentally aimed at consolidating the fiscal adjustment.

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