Angola: 2024 First Post-Financing Assessment-Press Release; and Staff Report

Author: International Monetary Fund. African Dept.

Volume/Issue: Volume 2024 Issue 224

Publication date: July 2024

ISBN: 9798400282027

$20.00

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Topics covered in this book

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Exports and Imports , Economics- Macroeconomics , Public Finance , Industries - Energy , anchor inflation expectation , private sector borrowing costs , oil price shock , Angola economy , inflation reduction , oil dependence , Oil prices , Oil production , Energy subsidies , Global

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Summary

Angola remained resilient in the face of significant challenges in 2023, including weaker oil production and prices. However, the gains from fiscal consolidation were lower-than-anticipated and inflation increased. Angola’s capacity to repay the Fund is adequate though subject to risks. In the event of an adverse scenario involving a prolonged oil price shock, repayment indicators would weaken but remain adequate.