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Angola: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Angola

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  • International Monetary Fund

Abstract

This 2018 Article IV Consultation highlights that lower oil prices since mid-2014 have placed the Angolan economy under stress. The authorities initially reacted to the oil price shock with significant fiscal tightening and exchange rate adjustments coupled with foreign exchange quantitative restrictions. The policy mix in the run-up to the August 2017 elections—fiscal expansion and pegged exchange rate—led to a further erosion of fiscal and external buffers. President João Lourenço has focused attention on improving governance and restoring macroeconomic stability. The government’s macroeconomic stabilization program envisages: upfront fiscal consolidation; greater exchange rate flexibility; reducing the public debt-to-GDP ratio to 60 percent over the medium term; improving the public debt profile; and settling domestic payments arrears.

Suggested Citation

  • International Monetary Fund, 2018. "Angola: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Angola," IMF Staff Country Reports 2018/156, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2018/156
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    Cited by:

    1. Koddenbrock, Kai & Sylla, Ndongo Samba, 2019. "Towards a political economy of monetary dependency: The case of the CFA franc in West Africa," MaxPo Discussion Paper Series 19/2, Max Planck Sciences Po Center on Coping with Instability in Market Societies (MaxPo).
    2. Elisabeth Paul & N’koué Emmanuel Sambiéni & Jean-Pierre Wangbe & Fabienne Fecher & Marc Bourgeois, 2020. "Budgeting challenges on the path towards universal health coverage: the case of Benin," Health Economics Review, Springer, vol. 10(1), pages 1-8, December.
    3. Irina Skuratovych & Nataliia Lytvyn & Iryna Panova & Ievgen Ovcharenko & Olena Hryhorevska, 2021. "Efficiency of using the potential of small business in ensuring sustainable economic growth," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(4), pages 742-756, June.
    4. Izzet Alp Gul & Gülgün Kayakutlu & M. Özgür Kayalica, 2020. "Risk Analysis in Renewable Energy System (RES) Investment for a Developing Country: A Case Study in Pakistan," Arthaniti: Journal of Economic Theory and Practice, , vol. 19(2), pages 204-223, December.
    5. Miss Yinqiu Lu & Dmitry Yakovlev, 2018. "Instruments, Investor Base, and Recent Developments in the Malaysian Government Bond Market," IMF Working Papers 2018/095, International Monetary Fund.
    6. Elisabeth Paul & N'koué Emmanuel Sambiéni & Jean-Pierre Wangbe & Fabienne Fecher & Marc Bourgeois, 2020. "Budgeting challenges on the path towards universal health coverage: the case of Benin," ULB Institutional Repository 2013/312499, ULB -- Universite Libre de Bruxelles.

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