IMF Chief Praises Angola’s Economic Reforms and Urges Continued Structural Transformation
International Monetary Fund (IMF) Managing Director Kristalina Georgieva has concluded her first three-day visit to Angola, where she praised the government’s ongoing efforts to reform the economy and reduce its dependence on oil since 2017.
Georgieva noted that Angola’s reform momentum has delivered clear progress, but stressed that continued action is essential as the global economy undergoes rapid change.
“Angola must move forward with structural reforms that promote private-sector growth,” she said.
In a statement published on the IMF’s website, Georgieva highlighted Angola’s economic dynamism and pointed to ways of strengthening it further, including improving access to capital and ensuring more efficient allocation of public funds.
“Everyone here is thinking about the process of removing harmful subsidies, such as energy subsidies, and how to best protect vulnerable people,” she added.
Georgieva also emphasized that Angola’s greatest asset is its young population, describing it as dynamic, motivated and committed to building a stronger future for the country.
A Longstanding Partnership with the IMF
Angola’s relationship with the IMF has evolved significantly since the country joined the institution in 1989, marked by periods of closer cooperation aligned with its economic and political developments.
IMF Loan to Angola
Between 2018 and 2021, the IMF provided Angola with a loan package of approximately USD 4.4 billion under the Extended Fund Facility (EFF), along with technical assistance to support implementation of the program.
As of July 2024, Angola had repaid around USD 176 million of the EFF-related debt. According to IMF representative Victor Lledo, speaking to ANGOP in 2024, the country is expected to repay roughly USD 2.8 billion — about 70% of the outstanding amount — by 2028.
Angola has been strengthening its cooperation with the IMF in recent years through initiatives aimed at improving public financial management, enhancing investment frameworks and promoting sustained economic and social development.
