The International Monetary Fund (IMF) representative in Angola said on Thursday that there are no ongoing negotiations with Angola for a new support program, but that the financial institution “remains very close as an adviser.”
“What we do regularly is share with the Government, with the Angolan authorities, what the financing options would be in case they formally request a program with the International Monetary Fund,” said Victor Lledo, who presented the Regional Economic Outlook Report for Sub-Saharan Africa, with a focus on its Interrupted Recovery.
On the sidelines of the presentation, held today in Luanda at the Faculty of Economics of Agostinho Neto University, Victor Lledo told Lusa that the IMF continues to provide capacity-building support to Angolan government staff.
Regarding economic prospects, the expert noted that Africa and Angola began a very encouraging economic recovery process in 2024, going from 3.6% growth in 2023 to 4% in 2024, with Angola accelerating its economic growth from 1% to 4.5% during this period.
This recovery was accompanied by a reduction in macroeconomic imbalances, such as inflation, levels of public debt and reserves, and greater exchange rate stability, he highlighted, resulting in improved access to international markets, supported by “difficult economic policy measures” such as exchange rate flexibility and subsidy reductions.
“Unfortunately, this nascent recovery, both in Africa and Angola, is at risk of being interrupted this year due to the current global scenario of an escalating trade war, which creates uncertainty and negatively affects global growth prospects and commodity prices, including oil,” he said.
Source: Lusa
