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Business and Economics > Budgeting

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Cover IMF Staff Country Reports
Angola: Selected Issues
International Monetary Fund. African Dept.
2024 Selected Issues
Keywords:
WGI subcategory; governance indicator; Angola's governance; NON-OIL economic growth; Angola's economy; private sector credit; Corruption; Infrastructure; Human capital; Sub-Saharan Africa; Global
Cover IMF Staff Country Reports
Republic of Mozambique: Technical Assistance Report on Regaining Control Over Budget Execution
International Monetary Fund. Fiscal Affairs Dept.
The report takes stock of workflows and processes in budget execution in Mozambique and contributes to the authorities in improving their control over the execution of the budget.
Keywords:
IMF TA coordinator; IMF office; budget credibility; IMF's Fiscal Affairs Department; FAD staff; Budget planning and preparation; Budget execution processes; Arrears; Budget execution and treasury management; West Africa; Central Africa
Cover IMF Staff Country Reports
Angola: Selected Issues
International Monetary Fund. African Dept.
Angola: Selected Issues
Keywords:
ISCR; CR; bank; tax; Angola
Cover IMF Staff Country Reports
Angola: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper assesses macroeconomic fiscal risks and the benefits of improved fiscal risk management in Angola. Angola faces fiscal risks coming from multiple sources, such as volatility in oil prices and production, macroeconomic shocks, weak macroeconomic forecasting; weaknesses in public fiscal management, energy subsidies, potential delays of oil revenue transfers from the state-owned oil company Sonangol to the Treasury, and contingent liabilities from state-owned banks and enterprises. Addressing these risks requires action in various fronts, including more transparent fiscal reporting, improved forecasting of fiscal aggregates and other macroeconomic variables, developing a fiscal stabilization fund with more flexible deposit and withdrawal rules, strengthened public expenditure controls, and more timely oil revenue transfers from Sonangol to the Treasury.
Keywords:
ISCR; CR; bank; tax; Angola; Angolan bank; reference rate; interbank rate; lending rate; Banco de Desenvolvimento de Angola; Tax expenditures; Fiscal risks; Interbank rates; Oil prices; Deposit rates; Global; Africa
Cover IMF Staff Country Reports
Angola: Fourth Review Under the Stand-By Arrangement, Request for Waivers of Nonobservance of Performance Criteria, Request for Waivers of Applicability of Performance Criteria, and Request for Modification of Performance Criteria.
International Monetary Fund
Angola’s economy was badly buffeted by the sharp drop in global oil prices. Policy discussions for the review focused on the 2011 budget, the handling of the arrears problem, monetary and exchange rate policies, and key elements of the authorities’ administrative and policy reform agenda. Angolan banks have not been severely impaired by the financial instability of the past two years, and the sector maintains an adequate capital buffer. Four elements—public financial management, tax reform, improving the business environment, and transparency and safeguards issues—are discussed.
Keywords:
ISCR; CR; authority; end-December data; December; consumer price inflation; national bank of Angola; arrears accumulation; staff appraisal; Oil prices; Arrears; Budget planning and preparation; Oil; Fiscal stance; Global
Cover IMF Staff Country Reports
Angola: Request for Stand-By-Arrangement
International Monetary Fund
This paper discusses a request from Angola for a Stand-By-Arrangement (SBA). The requested SBA aims to support orderly policy adjustments to restore macroeconomic balances and rebuild international reserves. This program also includes a focused reform agenda aimed at medium-term structural issues on which long-term non-oil sector growth will ultimately depend. IMF staff and the authorities have agreed that, while the policy mix should consider all possible instruments geared toward achieving these objectives, fiscal policy should play the lead role in the policy package.
Keywords:
ISCR; CR; terms of trade shock; Banco Nacional de Angola; economic crisis; spending; oil revenue; national bank of Angola; near-term growth prospect; sector growth; Exchange rates; Budget planning and preparation; Oil; gas and mining taxes; Global
Cover IMF Staff Country Reports
Angola: 2007 Article IV Consultation: Staff Report; Staff Supplement and Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Angola
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; oil output; surplus; target; staff appraisal
Cover IMF Staff Country Reports
Angola: 2007 Article IV Consultation: Staff Report; Staff Supplement and Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Angola
International Monetary Fund
The staff report for the 2007 Article IV Consultation on Angola highlights economic performance, macroeconomic stability, and fiscal policy. Growth in the medium term will rely increasingly on the non-oil sector, where reforms to promote private sector development will be critical to offset a potential loss in competitiveness from an appreciating real exchange rate. A key challenge is to ensure that political pressure to scale up public spending does not undermine macroeconomic stability. Lower output growth and oil revenues than envisaged in the baseline scenario could jeopardize public and external debt sustainability.
Keywords:
ISCR; CR; oil output; surplus; target; staff appraisal; national bank of Angola; BNA bill; medium term challenge; oil-price rule; Oil; Sub-Saharan Africa; Global
Cover IMF Staff Country Reports
Angola: IMF Concludes 2003 Article IV Consultation with Angola: 2003 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Angola
International Monetary Fund
The ending of the civil war has brought to the fore the need to reconstruct the Angolan economy and address the problem of widespread poverty. A strong medium-term fiscal adjustment effort, including a reduction of the National Bank of Angola's operational deficit, is needed. The government should pursue a much more prudent foreign borrowing policy to avoid a worsening of the external debt burden. A tighter macroeconomic policy accompanied by a decisive structural reform is needed to foster economic diversification, create employment opportunities, and increase productivity.
Keywords:
authorities' support; support to the peace process; government equivalent; authorities' effort; president of the republic; Government debt management; Oil sector; Budget planning and preparation; Africa; IMF resident Representative; State oil revenue; inflation rate; Policy discussion; national bank of Angola; International reserves; Southern Africa
Cover Policy Papers
Enhanced Heavily Indebted Poor Countries (HIPC) Initiative - Creditor Participation Issues
International Monetary Fund
NULL
Keywords:
PP; lawsuit; HIPCs; HIPC debt-relief agreement; fund; HIPC relief; HIPC debt relief; HIPC country document; fund staff; creditor litigation; HIPC status; HIPC debtor; HIPC creditor; Debt relief; Debt reduction; Legal support in revenue administration; Extra-budgetary funds; Loans; West Africa