Angola: First Review Under the Stand-By Arrangement and Request for a Modification of a Performance Criterion
IMF Staff Country Reports, May 26, 2010
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- Angola: First Review Under the Stand-By Arrangement and Request for a Modification of a Performance Criterion
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Bibliographic details
- Authors: Arrangement, Request
- Published: May 26, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455204656.002
Key findings
- 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.
- A modest appreciation of the parallel rate has occurred, and together with the official-rate adjustment, has narrowed the spread between the two markets.
Program status and operational changes
- Reintroduction of the foreign exchange auction system: led to a significant and orderly adjustment in the official rate.
- Market outcomes: modest appreciation in the parallel rate; narrowed spread between official and parallel foreign exchange markets.
- Program timing note: program negotiations stage referenced as September 2009.
Subjects and keywords
- Subject: Arrears, External debt, Fiscal policy, Fiscal stance, Government debt management, Public debt, Public financial management (PFM)
- Keywords: Arrears, audit result, BNA, CR, disbursement of SDR, end-March inflation rate, end-March program target, Fiscal stance, Global, Government debt management, ISCR, national bank of Angola, policy design