Category: Economy

The World Bank has granted Angola $300 million to help accelerate Angola‘s economic diversification, with a key emphasis on the private sector’s involvement. The funding is allocated under the Diversifica Mais project, which aims to expedite economic diversification processes and will be implemented nationwide over the next six years, with a specific focus on the Lobito corridor. According to the bank, $130 million will be allocated to boost investments for structuring and implementing public-private partnerships,

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The International Monetary Fund (IMF) considers that the Government will continue with the gradual removal of fuel subsidies, as long as the process is accompanied by mitigation measures, such as the direct transfer of income to the vulnerable population, in order to offset the effects adverse, declared, this Monday, in Luanda, the resident representative of the financial institution. Victor Lledo added, in the presentation of the Article IV assessment report (from the IMF to member

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The National Bank of Angola (BNA) plans to increase exposure to the Euro, in a decision explained by the return to positive interest rates in the European monetary bloc and geopolitical factors that have led central banks to diversify reserves. “The BNA intends to increase exposure to the Euro, but not necessarily to the detriment of other currencies,” declared the central bank in a statement cited by Reuters. “For a decade, the Euro was in

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Several international companies have submitted proposals to the government for the concession of management rights for the “Dr. António Agostinho Neto” International Airport (AIAAN). In recent days, these companies have conducted prospecting visits to assess the infrastructure’s potential and business opportunities. According to the Ministry of Transport, four European and American companies with expertise in airport management have acquired the specifications for the concession tender. They have also conducted technical visits to the airport to

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The Executive Board of the International Monetary Fund confirmed that 2023 was a difficult year with many challenges, but that the foundations for recovery in 2024 and contributions from 2025 have been laid. The Executive Board of the International Monetary Fund (IMF) expects economic growth in Angola to recover in the short term. This scenario will result in improved oil production and the recovery of the non-oil sector. The information is contained in the final

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The Minister of State for Economic Coordination of Angola, José de Lima Massano, and the Minister of Foreign Affairs of Brazil, Mauro Vieira, held a meeting last week as part of the G20 foreign ministers’ meeting, which has been taking place since Wednesday. fair, in Brazil. At the meeting, the two ministers discussed the expansion of commercial and economic cooperation, the opening of the Consulate General of Brazil in Luanda, which will represent the opportunity to

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The Minister of Planning, Victor Hugo Guilherme, and the Regional Director of the World Bank for Angola, DRC, São Tomé and Príncipe and Burundi, Albert Zeufack, met, on Monday, in Luanda, for the calendar and program of reforms of the second budget support operation. During the meeting, those responsible also discussed the launch of the preparation of the new cooperation framework between the World Bank and the Government of Angola for the period 2024-2029 and

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