Washington, Sept. 10, 2026 (Lusa) - The International Monetary Fund (IMF) argued on Thursday that Angola should adopt «proactive fiscal consolidation», warning that the country has slowed down the implementation of reforms designed to encourage foreign investment, reduce dependence on oil and accelerate economic diversification.
«A favourable external environment has contributed to a more robust external position and growth in non-oil activity, improved market access and a decline in inflation; at the same time, however, it has slowed macroeconomic adjustment and the momentum of reforms, which are fundamental to reducing Angola's dependence on oil and its vulnerabilities», write IMF economists in their assessment of the country following the financial adjustment programme, which ended in 2021.
«Maintaining macroeconomic stability and the hard-won productivity gains in this shock-prone world will require proactive fiscal consolidation, a prudent monetary policy and exchange rate flexibility,» emphasises the IMF in a note signed by Mika Saito, the head of the technical team that visited the country between 24 August and 6 September.
In the statement released today in Washington, the IMF acknowledges that the «favourable external environment» has led to a more robust external position and «the strengthening of non-oil activity, improved market access and a decline in inflation», which in July fell below double figures for the second consecutive month.
Nevertheless, Saito warns that «further structural reforms to improve the business environment, strengthen governance, attract foreign investment and diversify the economy will be important for sustainable growth».
The IMF's visit to Angola forms part of the Post-Financing Assessment (PFA), a tool for assessing the macroeconomic performance of countries that have received financial assistance from the IMF in previous years, and reviews members' policies, the consistency of the macroeconomic framework with the objective of medium-term viability, and the implications for the member's ability to repay loans made by the Fund.
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