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Cover IMF Staff Country Reports
Angola: Fifth Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Angola
International Monetary Fund. African Dept.
Near-term macroeconomic prospects continue to improve in the context of higher oil prices and a gradual global recovery from the pandemic shock, but the medium-term outlook remains challenging and highly uncertain. Oil production remains muted, debt and inflation remain elevated, and non-oil activity is expected to recover only gradually. However, continued strong fiscal performance (aided by higher oil revenues), exchange rate stabilization, and a return to positive non-oil growth would contribute to a reduction in the debt-to-GDP ratio this year, easing debt vulnerabilities.
Keywords:
payment arrears; waiver of nonobservance; national bank of Angola; nonobservance of the performance criterion; nature of the arrears; Oil prices; Oil; COVID-19; Global