Luanda – Angola government has congratulated the International Monetary Fund (IMF) on the high commitment to the general materialisation and mobilisation of the Special Drawing Rights (SDR), worth 650 billion dollars (456 billion SDR).

The amount will be added to strengthen the global economy liquidity and boost the response capacity of all countries’ policies.

Of this amount, Angola gets 1.007 billion dollars, equivalent to 709.35 million SDR, based on equal distribution among the Monetary Fund member countries.

Angola will spend the resources on promotion of resilience and ensure the stability of national economy.

The value will also be used to strengthen the external position and reviving the speedy economic recovery of the country, states a press release from the Ministry of Finance sent to ANGOP.

The Minister of Finance clarifies that the amount has not to do with a new loan incurred from the IMF, in other words, an additional funding under the current Extended Fund Facility (EFF) between Angola with the International Monetary Fund.

“The allocation is part of a IMF’s response to the request made by the international community in framework of Paris Summit held on 18 May, aimed to mobilise a package of a massive help to support the countries, particularly the African countries hit by Covid-19 pandemic”, reads a note from Ministry of Finance.

Source: Angola Press News Agency