Angola: First Review Under the Stand-By Arrangement and Request for a Modification of a Performance Criterion
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Summary:
This paper discusses key findings of the First Review Under the Stand-By Arrangement for Angola. The paper reveals that the authorities’ reforms are beginning to bear fruit in terms of achieving key program goals. The heavy foreign exchange market pressures that were evident at the program negotiations stage (September 2009) have eased. The reintroduction of the foreign exchange auction system has led to a significant and orderly adjustment in the official rate, and together with a modest appreciation of the parallel rate, has narrowed the spread between the two markets.
Series:
Country Report No. 2010/143
Subject:
Arrears External debt Fiscal policy Fiscal stance Government debt management Public debt Public financial management (PFM)
English
Publication Date:
May 26, 2010
ISBN/ISSN:
9781455204656/1934-7685
Stock No:
1AGOEA2010001
Pages:
67
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