Angola prepares sixth and final assessment of IMF's Extended Fund Facility, says official

Under Extended Fund Facility of International Monetary Fund (IMF), Angola is preparing sixth and final assessment of extended agreement, authorities informed as reported by Xinhua news ncy. In a media briefing, Milton Reis, country's secretary of state for planning, stated that Ministries of Finance, Ecomy and Planning, Mineral Resources and Petroleum are working toger with National Bank of Angola to prepare assessment of agreement. He furr informed that an IMF team is carrying out a virtual visit from September 6 to 13. Ministry of Ecomy and Planning has been assigned to present performance assessment of real sector of ecomy up to first half of 2021 during online visit of IMF officials. 

With an emphasis on oil, natural gas and n-oil sectors, country is also presenting prospects for 2022, Reis said, adding that a report will also be presented on steps taken to boost implementation of public-private partnerships, reported Xinhua news ncy. extended agreement under Extended Fund Facility intends to restore external and fiscal sustainability. It also sets down foundation for sustainable ecomic diversification, with private sector leading market, according to Xinhua news ncy. Fiscal consolidation to bring debt to safer levels, higher exchange rate flexibility to regain competitiveness and a supportive monetary policy to reduce inflation are essential pillars of programme. 

IMF urges world’s richest nations to help poor countries

In July, Chief of International Monetary Fund Kristalina Georgieva had urged world’s richest nations to come forward to help poor countries withstand "devastating double blow" of coronavirus pandemic and its subsequent ecomic dam. In an online post, she had highlighted "deepening divergence" between rich and poor and called on G-20 nations to take immediate steps to keep developing nations from falling furr behind access to vaccines. According to IMF Managing Director, while US is poised to grow at fastest pace since 1984, Europe and China are also expected to catch momentum. However, it is developing world that would be left behind by a "worsening two-track recovery, driven by dramatic differences in vaccine availability, infection rates, and ability to provide policy support."

Im: AP