Angola: Fourth Review Under the Stand-By Arrangement, Request for Waivers of Nonobservance of Performance Criteria, Request for Waivers of Applicability of Performance Criteria, and Request for Modification of Performance Criteria.
February 15, 2011
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Angola’s economy was badly buffeted by the sharp drop in global oil prices. Policy discussions for the review focused on the 2011 budget, the handling of the arrears problem, monetary and exchange rate policies, and key elements of the authorities’ administrative and policy reform agenda. Angolan banks have not been severely impaired by the financial instability of the past two years, and the sector maintains an adequate capital buffer. Four elements—public financial management, tax reform, improving the business environment, and transparency and safeguards issues—are discussed.
Subject: Arrears, Budget planning and preparation, Commodities, External debt, Fiscal policy, Fiscal stance, Foreign exchange, Oil, Oil prices, Prices, Public financial management (PFM)
Keywords: Arrears, arrears accumulation, authority, Budget planning and preparation, consumer price inflation, CR, December, end-December data, Fiscal stance, Global, ISCR, national bank of Angola, Oil, Oil prices, staff appraisal
Pages:
63
Volume:
2011
DOI:
Issue:
051
Series:
Country Report No. 2011/051
Stock No:
1AGOEA2011001
ISBN:
9781455217724
ISSN:
1934-7685
