Luanda, Nov. 21, 2025 (Lusa) — The IMF's managing director encouraged Angola to continue with reforms, warning that the country "cannot slow down" if it is to "keep up" and assuring that the institution is available to support the withdrawal of fuel subsidies.
"My message to the Angolan authorities is that they have done a good job since 2017 in reforming the economy. Stay the course. Don't lose momentum, because if you slow down structural reforms, you will fall behind," said Kristalina Georgieva in an exclusive interview with Lusa in Luanda on Friday.
The head of the International Monetary Fund (IMF) said she hoped the Angolan authorities "would not hesitate," stressing that "a strong economy is the best way to show people that they are doing a good job."
According to Kristalina Georgieva, communication is essential to make reforms more acceptable, recommending that the Angolan government "talk to people, explain what they are doing, why they are doing it and why it is in the public interest".
The country, she insisted, must continue on the path it has chosen, because "structural reforms create opportunities for growth and employment".
The IMF, she assured, can help Angola phase out fuel subsidies "gradually and in the right sequence".
"We can advise on the most appropriate sequence," she said, noting that "removing subsidies is not an easy thing to do anywhere in the world".
For the IMF's managing director, the most important thing is that the process follows the right order, identifying and providing support to the most vulnerable.
In this regard, she considered mechanisms such as the Kwenda cash transfer programme, which supports 1.7 million families, to be positive, but pointed out that the country must "do even more".
Georgieva insisted that subsidies are paid "by all citizens, through taxes," asking: "Why do poor people pay subsidies for the rich? It doesn't make sense."
According to her, the gradual withdrawal of subsidies is the only way to free up more resources for other sectors, adding that subsidies represent 2.5% of Angola's GDP.
"That's US$3 billion that could finance education, support start-ups, build and rehabilitate roads or improve public transport," she explained, reiterating: "Why not take that money and put it where it best serves society? Don't think of it as a loss. Think of it as a better use of your money."
Asked about the impact of these reforms on prices and inflation, she stressed the importance of "sequencing" and “careful” implementation, stating that if the most vulnerable are protected, "the impact will be less".
"It is possible to implement reforms and lower inflation with good sequencing and good implementation," she assured, pointing out that inflation in Angola has been falling.
The IMF's managing director, who was in Angola at the invitation of President João Lourenço for a three-day visit, praised the Angolan executive team and said she had been left with a "very positive impression" of the business community, also leaving an optimistic note about her meeting with young people, the "hope for Angola's future".
The IMF lent Angola a total of US$4.43 billion (€3.85 billion at the current exchange rate) under a financial support programme between 2018 and 2020, of which the country still owes around US$3.59 billion.
Angola remains subject to annual Article IV assessments, and programme disbursements have entailed trade-offs and reforms, including the phasing out of fuel subsidies.
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