Angola : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Angola

Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

June 11, 2018

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This 2018 Article IV Consultation highlights lower oil prices since mid-2014, which have placed the Angolan economy under stress. The authorities initially reacted to the oil price shock with significant fiscal tightening and exchange rate adjustments coupled with foreign exchange quantitative restrictions. The policy mix in the run-up to the August 2017 elections—fiscal expansion and a pegged exchange rate—led to further erosion of fiscal and external buffers. President João Lourenço has focused attention on improving governance and restoring macroeconomic stability. The government’s macroeconomic stabilization program envisions up-front fiscal consolidation, greater exchange rate flexibility, reducing the public-debt-to-GDP ratio to 60 percent over the medium term, improving the public debt profile, and settling domestic payments arrears.

Series:

Country Report No. 18/156

Subject:

English

Publication Date:

June 11, 2018

ISBN/ISSN:

9781484360194/1934-7685

Stock No:

1AGOEA2018001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

74

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