Angola Gets Over U.S $3 Billion IMF Boost

Christine Lagarde, Head of the IMF (File Photo).

Luanda – Angolan President, João Lourenço, said on Thursday in Luanda that the USD 3.7 billion released to the country by the international Monetary Fund (IMF) increases credibility to the country’s ongoing reforms.

The Angolan President, who was speaking in a joint press conference with IMF director-general, said that despite the fact that the reforms are real, they need the “endorsement” of a credible international financial institution.

With this IMF “endorsement” that investors long waited, the government programme gains more credibility and the arrival soon of international investors is awaited, said the Angolan President.

The president also said that the Angolan government has already USD 1 billion in possession from the overall amount to be made available by the IMF.

In her turn, the IMF director-general Christine Lagarde said the financial assistance programme will not include tax hike, layoffs in the public sector neither fuel price raise.