IMF MISSION IN ANGOLA FOR ANNUAL ARTICLE IV CONSULTATIONS

LUANDA, A delegation from the International Monetary Fund (IMF) is currently in Angola for meetings with local officials to discuss the economic, monetary and fiscal situation in the country.

The Angolan authorities will discuss with the IMF mission the latest developments in the country’s public debt, budget management, projections and economic growth trends. The IMF mission will also review with the officials the latest developments concerning the Angolan economy, public investment and the monetary and balance of payments situation.

Angop has learnt that the mission, led by IMF economist Ricardo Velloso, will also meet members of the government’s economic team on issues related to the strategy for public debt management, the evolution of payable and payments of delayed accounts and the outlook of the oil sector, which plays a pivotal role in the Angolan economy.

The current tax reforms and other measures to increase non-oil revenue collection, as well as banking regulations and supervision, are also on the agenda of the mission, which ends on March 29.

The IMF delegation, which arrived in Luanda Wednesday, held a meeting here Thursday to co-ordinate its agenda in Angola with the government’s economic team, which includes Minister of Finance Archer Mangueira, Economy Minister AbrahAPound o Gourgel and the Governor of the National Bank of Angola, Valter Filipe.

The mission is also to have separate meetings with the Commission of Economy and Finance of the National Assembly, members of the Board of Directors of State-owned oil and gas company Sonangol, the General Tax Administration (AGT), the National Statistical Institute (INE), the Sovereign Fund of Angola, (CMC), commercial banks and private sector representatives.

The meetings by the IMF team are part of preparations for the annual consultative mission under the Fund’s Article IV, which is set for the end of this year. The IMF carries out annual Article IV consultations with member nations. The last IV Article consultations conducted with Angola took place in November, last year.

Source: NAM NEWS NETWORK