{
  "title": "Angola: 2024 First Post-Financing Assessment-Press Release; and Staff Report",
  "publication": "IMF Staff Country Reports, July 15, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2024/07/15/angola-2024-first-post-financing-assessment-press-release-and-staff-report-551882",
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  "summary": "This paper presents Post Financing Assessment (PFA) Consultation with Angola. Angola’s capacity to repay the IMF is adequate though subject to risks. Angola remained resilient in the face of significant challenges in 2023, including weaker oil production and prices.",
  "sections": [
    {
      "heading": "Capacity to Repay and Risk Assessment",
      "content": "- Angola’s capacity to repay the IMF is assessed as adequate though subject to risks.\n- Key risk drivers include the long-term decline of the oil sector and volatility in oil production and prices."
    },
    {
      "heading": "2023 Performance and Fiscal Adjustments",
      "content": "- Angola remained resilient in the face of significant challenges in 2023, including weaker oil production and prices.\n- Spending adjustments in 2023 helped contain the impact of weaker oil prices and lower production, though the gains from fiscal consolidation were lower-than-anticipated."
    },
    {
      "heading": "Non‑oil Primary Fiscal Deficit (NOPFD) and Medium‑Term Outlook",
      "content": "- The nonoil primary fiscal deficit (NOPFD) is estimated at 4.4 percent of gross domestic product (GDP) in 2024.\n- NOPFD is expected to steadily decline in the medium term due to:\n  - modestly improving non-oil revenues;\n  - moderately lower current and capital expenditures;\n  - savings from fuel subsidy reform."
    },
    {
      "heading": "Monetary Policy and Inflation",
      "content": "- Continued efforts on enhancing the monetary policy framework are needed to:\n  - reduce inflation; and\n  - support non-oil medium-term growth."
    },
    {
      "heading": "Structural Reforms and Diversification",
      "content": "- Implementing broad ranging structural reforms is vital to:\n  - improve the business environment; and\n  - maintain growth as the oil sector declines over the long term."
    },
    {
      "heading": "Governance, Gender, and Climate Considerations",
      "content": "- Addressing issues related to governance, gender, and climate change is critical to achieving economic diversification and sustainable growth.\n\nSource: Angola: 2024 First Post-Financing Assessment-Press Release; and Staff Report (IMF, July 15, 2024).\n\n---\n\n Content in this bundle\n\n- 1agoea2024003-print-pdf\n  - 1agoea2024003-print-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1agoea2024003-print-pdf (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 15, 2024",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400282027.002",
    "Angola’s capacity to repay the IMF is assessed as adequate though subject to risks.",
    "Key risk drivers include the long-term decline of the oil sector and volatility in oil production and prices.",
    "Angola remained resilient in the face of significant challenges in 2023, including weaker oil production and prices.",
    "Spending adjustments in 2023 helped contain the impact of weaker oil prices and lower production, though the gains from fiscal consolidation were lower-than-anticipated.",
    "The nonoil primary fiscal deficit (NOPFD) is estimated at 4.4 percent of gross domestic product (GDP) in 2024.",
    "NOPFD is expected to steadily decline in the medium term due to:",
    "Continued efforts on enhancing the monetary policy framework are needed to:",
    "Implementing broad ranging structural reforms is vital to:",
    "Addressing issues related to governance, gender, and climate change is critical to achieving economic diversification and sustainable growth.",
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