IMF approves $1bn disbursement for Angola, expands programme facility by $765m
Flash note on IMF decision
The International Monetary Fund (IMF)’s executive board has completed the third review of Angola’s economic programme, allowing for an immediate disbursement of around $1 billion to Angola.
The IMF board also approved Angola’s request for an increase of access under its Extended Fund Facility (EFF) of 72% of Angola’s quota, around $765m, to support efforts to control the spread of the covid-19 pandemic, mitigate its economic impact, and persevere with structural reforms.
In more good news for the Angolan government, the IMF board agreed to waive some nonobservance and performance criteria, and to modify some other performance criteria, indicative targets, and structural benchmarks.
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