Angop - Agência de Notícias Angola Press

IMF encourages government to pursue reforms

Thu, 20 Apr 2017 17:21 - Economy

Luanda - The Minister of Finance, Archer Mangueira, held a meeting with the Deputy Director-General of the International Monetary Fund, Tao Zhang, Wednesday in Washington, who expressed his satisfaction with the efforts made by the Government to contain financial risks, due to the impact of the reduction of the oil price in the national economy.

  • Archer Mangueira - Minister of Finance

"I am enthusiastic and pleased about the efforts to contain financial risks, especially inflation and the reform of the financial system," said the IMF official regarding the Government macroeconomic policy measures presented by the Minister of Finance and other members of the delegation.

Archer Mangueira explained the pillars of the Strategy for the Implementation of Macroeconomic Programming, based on control of inflation, promotion of diversification, improvement of the financial conditions of the State and reform of the financial system.

The IMF official reiterated the need to strengthen and focus on structural reforms, to consolidate the fiscal area, mainly in the non-oil sector and, thus, to contain inflation.
According to Tao Zhang, reforms will function as a cushion to soften the impact of external shocks.

Angola and the IMF have agreed to improve cooperation instruments, especially in the area of technical assistance, on which the IMF has been experimenting with new formulas in order to adapt to the reality and concrete needs of each member country.

The World Bank provides technical assistance to the financial system