The division chief in the Africa Department of the International Monetary Fund (IMF), Luc Eyraud, considers that “Angola is on the right path to economic recovery,” but warned that maintaining fiscal discipline is key to ensuring debt sustainability.
“Angola is on track for a healthy recovery,” said the man also responsible for producing the report on African economies, released last week in Washington as part of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank.
“From now on maintaining fiscal discipline will be critical to ensure debt sustainability,” which has seen a significant decline in the past two years, due not only to agreements with Chinese banks to defer payments, but also the appreciation of the kwanza and economic recovery, causing the debt to gross domestic product (GDP) ratio to improve from 136.5% in 2020 to 86.4% last year and 56.6% this year, falling further in 2023 to 52.5% of GDP.
