## Press Release: Statement by IMF Deputy Managing Director Min Zhu on Angola

_IMF News, April 6, 2016_

## Source details

**Canonical URL:** [Press Release: Statement by IMF Deputy Managing Director Min Zhu on Angola](https://www.imf.org/en/news/articles/2015/09/14/01/49/pr16155)

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## Bibliographic details
- Published: April 6, 2016

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### Summary
- Press Release No. 16/155
- Date: April 6, 2016
- Issued by: IMF COMMUNICATIONS DEPARTMENT, Media Relations
- Key message: The Angolan authorities have formally requested IMF discussions on an economic program that could be supported by financial assistance.

### Context and Rationale
- "The sharp decline in oil prices since mid-2014 represents a major challenge for oil exporters, especially for those economies that have yet to become more diversified."
- Angola faces economic challenges linked to the decline in oil prices and the need to accelerate diversification while safeguarding macroeconomic and financial stability.

### IMF response and proposed program
- The IMF "stands ready to help Angola address the economic challenges it is currently facing by supporting a comprehensive policy package to accelerate the diversification of the economy, while safeguarding macroeconomic and financial stability."
- The IMF expects to start discussions on an economic program that could be supported by a "three-year Extended Fund Facility (EFF)."

### Next steps and timeline
- "We expect to start discussions with the country’s authorities during the upcoming Spring Meetings in Washington D.C. and in Angola shortly thereafter on an economic program that could be supported by a three-year Extended Fund Facility (EFF)."

### Contact information
- Media Relations E-mail: media@imf.org
- Phone: 202-623-7100

*Source: Press Release No. 16/155 (April 6, 2016), IMF Communications Department.*

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## References

- [Angola and the IMF](http://www.imf.org/external/country/AGO/index.htm)
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- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr16155_