Berlin, ANGOLA, August 26 - Angola will discuss a USD 4.5 billion Programme under the financial assistance requested by the country, the Finance minister Archer Mangueira has told the press. ,

 

 

The minister said should Angola reaches a consensus with the Bretton Woods institution, the amount will be provided in USD 1.5 billion stages each year.

 

He said that the country wants to ensure the implementation of the macroeconomic stability.

 

He added that this expanded programme, coming after the Stand-by Agreement negotiated by the Angolan Executive and the IMF in 2008, is mainly aimed at consolidating the fiscal adjustment.

 

According to him, the ongoing tax reform programme is focused on the stability of net international reserves, which allowed to secure a more efficient operation by economic agents.

 

At the level of the financial system, the Executive focuses on permanent regulation and supervision measures of the banking system, aimed at reducing bad loans and strengthen the compliance system.

 

The programme also covers existing measures that will be reinforced through the creation of a better business environment.

 

With the ongoing macroeconomic stabilisation policies, the minister said that the government wants to reverse the path of State public debt", by reducing the fiscal deficit in the general budget from 07 percent in 2017 to 3.4 in 2018.

The IMF confirmed last Tuesday (21) that it has received a request from the Angolan Government to start debate on an economic programme financed under the Extended Fund Facility.

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