Angola: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Angola

March 27, 2024

Preview Citation

Format: Chicago

Angola: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Angola, (USA: International Monetary Fund, 2024) accessed November 21, 2024

Summary

Angola’s economic recovery in 2021/22 was nearly halted in 2023 by a double shock, as both oil production and prices weakened, and the debt moratorium ended. In response, the authorities took significant fiscal consolidation measures, including by cutting fuel subsidies, and tightened monetary policy. Angola continues to face significant challenges, including debt vulnerabilities and the need to diversify the economy as oil production declines over the long term. The authorities’ reform agenda, including the new 2023–27 National Development Plan, is focused on these challenges.

Subject: Energy subsidies, Expenditure, External debt, International organization, Monetary policy, Oil prices, Prices, Public debt

Keywords: AFRITAC South, Asset declaration regime, Energy subsidies, Global, Inflation pressure, Oil prices, Policy coherence, Policy priority, Reducing government's footprint

Publication Details

Pages:

99
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/080
Stock No:

1AGOEA2024001
ISBN:

9798400271380
ISSN:

1934-7685

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