Abstract
2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Angola
Fund Relations
(As of March 31, 2018)
Membership Status: Joined: September 19, 1989; Article XIV
| General Resources Account: | SDR Million | Percent of Quota |
|---|---|---|
| Quota | 740.10 | 100.00 |
| Fund holdings of currency (holdings rate) | 626.59 | 84.66 |
| Reserve tranche position | 113.61 | 15.35 |
| General Resources Account: | SDR Million | Percent of Quota |
|---|---|---|
| Quota | 740.10 | 100.00 |
| Fund holdings of currency (holdings rate) | 626.59 | 84.66 |
| Reserve tranche position | 113.61 | 15.35 |
| SDR Department: | SDR Million | Percent of Allocation |
|---|---|---|
| Net cumulative allocation | 273.01 | 100.00 |
| Holdings | 228.34 | 83.64 |
| SDR Department: | SDR Million | Percent of Allocation |
|---|---|---|
| Net cumulative allocation | 273.01 | 100.00 |
| Holdings | 228.34 | 83.64 |
| Outstanding Purchases and Loans: | SDR Million | Percent of Quota |
|---|---|---|
| None | 0.00 | 0.00 |
| Outstanding Purchases and Loans: | SDR Million | Percent of Quota |
|---|---|---|
| None | 0.00 | 0.00 |
Latest Financial Arrangements
| Type | Date of Arrangement | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
|---|---|---|---|---|
| Stand-By Arrangement | Nov 23, 2009 | Mar 30, 2012 | 858.90 | 858.90 |
| Type | Date of Arrangement | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
|---|---|---|---|---|
| Stand-By Arrangement | Nov 23, 2009 | Mar 30, 2012 | 858.90 | 858.90 |
Projected Payments to the Fund
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2018 | 2019 | 2020 | 2021 | 2022 | |
| Principal | … | … | … | … | … |
| Charges/Interest | 0.29 | 0.39 | 0.39 | 0.39 | 0.39 |
| Total | 0.29 | 0.39 | 0.39 | 0.39 | 0.39 |
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2018 | 2019 | 2020 | 2021 | 2022 | |
| Principal | … | … | … | … | … |
| Charges/Interest | 0.29 | 0.39 | 0.39 | 0.39 | 0.39 |
| Total | 0.29 | 0.39 | 0.39 | 0.39 | 0.39 |
Implementation of HIPC Initiative: Not Applicable
Implementation of Multilateral Debt Relief Initiative (MDRI): Not Applicable
Implementation of Catastrophe Containment and Relief (CCR): Not Applicable
Safeguards Assessments:1 The first-time safeguards assessment, which was finalized in May 2010, found that the National Bank of Angola (BNA) is subject to annual external audits by a reputable firm, but the audit opinions were qualified. The assessment confirmed weak governance and transparency practices at the BNA, including lack of timely publication of annual financial statements. The assessment made recommendations to strengthen the control framework in the reserves management and internal audit areas, and to enhance the legal framework and independence of the central bank. Some progress has been made in addressing recommendations. Outstanding key recommendations include: (i) amending the BNA Law to align it with best international practices; and (ii) resolving remaining audit qualifications. The audited 2016 financial statements have yet to be published.
Exchange Arrangements: The de jure exchange rate arrangement is floating. After depreciating by 22.6 percent in the first four months of 2016, the kwanza was stabilized vis-à-vis the U.S. dollar since mid-April 2016. Accordingly, the de facto exchange rate arrangement was reclassified to stabilized arrangement from other managed arrangement, effective April 15, 2016. In January 2018, the BNA adopted a regime of (unannounced) bands for the fluctuation of the kwanza against the euro, and conducted two auctions under the system that led to significant depreciation of the kwanza. To stem exchange rate overshooting, the BNA then set a new forex auction system in which bids could fluctuate within a plus/minus 2 percentage point band around the average exchange rate of winning bids of the previous auction, de facto capping the maximum depreciation of the exchange rate at 2 percent per auction. While the kwanza has depreciated around 30 percent against the U.S. dollar since early January 2018, more observations are necessary to determine its new trend. Until the next review, the de facto exchange rate arrangement remains classified as a stabilized arrangement.
Angola continues to maintain restrictions on the making of payments and transfers for current international transactions under the transitional arrangements of Article XIV, Section 2. The measures maintained pursuant to Article XIV are: (i) limits on the availability of foreign exchange for invisible transactions i.e. travel expenses; and (ii) limits on unrequited transfers to foreign-based individuals and institutions. In addition, Angola maintains three exchange restrictions subject to Fund jurisdiction under Article VIII, Section 2(a) resulting from (i) the discriminatory application of the 0.1 percent stamp tax on foreign exchange operations by natural persons; (ii) the operation of the priority list for access to U.S. dollars at the official exchange rate; and (iii) a special tax of 10% on transfers to non-residents under contracts for foreign technical assistance or management services. Angola also maintains three multiple currency practices that are subject to approval under Article VIII, Section 3 arising from the lack of a mechanism to prevent potential spreads in excess of 2 percent emerging (i) between successful bids within the BNA’s foreign exchange auction; and (ii) for transactions that take place at the reference rate in place and the rate at which transactions take place in the foreign exchange auction on that day, and (iii) the discriminatory application of the 0.1 percent stamp tax on foreign exchange operations by natural persons.
Article IV Consultation: Angola is on the standard 12-month cycle. The next Article IV Consultation is scheduled to be completed by May 2019.
Technical Assistance: Technical assistance activities since 2014 are listed below:
| Monetary and Capital Markets (MCM) | Year of Delivery |
|---|---|
| Technical Assistance on FX Market Operations | 2018 |
| Basel II Implementation | 2018 |
| Technical Assistance on Correspondent Banking Relationships | 2016 |
| AFRITAC South: Liquidity Management (various missions) | 2015–2018 |
| AFRITAC South: Inflation Forecasting Framework (various missions) | 2015–2018 |
| AFRITAC South: Macro-Prudential Analysis | 2016, 2017 |
| Capital Account Liberalization Workshop | 2015 |
| Technical Assistance Needs Assessment | 2014 |
| Technical Assistance Following the FSAP | 2013 |
| AFRITAC South: Risk-Based Supervision Framework | 2013 |
| Fiscal Affairs Department (FAD) | |
| VAT Implementation | 2016, 2017 |
| MTFF (incl. FRL and Fiscal Rules) | 2014, 2016 |
| Public Investment Management | 2015 |
| Subsidy Reform | 2014 |
| Tax Policy and Administration | 2014, 2015 |
| AFRITAC South: (incl. FRL and Fiscal Rules) (various missions) | 2014–2018 |
| AFRITAC South: Public Investment Management (various missions) | 2015, 2017 |
| AFRITAC South: Expenditure Control and Arrears (various missions) | 2014, 2016, 2017 |
| AFRITAC South: Customs and Tax Administration (various missions) | 2015–2018 |
| Statistics Department (STA) | |
| Government Finance Statistics | 2017 |
| External Sector Statistics | 2015 |
| Monetary and Financial Statistics (various missions) | 2014, 2016 ,2017 |
| AFRITAC South: Price Statistics | 2017 |
| AFRITAC South: National Accounts (various missions) | 2015–2018 |
| Institute for Capacity Development (ICD) | |
| Financial Programming and Policies for Angolan Officials | 2014 |
| Legal Department | |
| AML/CFT Framework | 2017, 2018 |
| Monetary and Capital Markets (MCM) | Year of Delivery |
|---|---|
| Technical Assistance on FX Market Operations | 2018 |
| Basel II Implementation | 2018 |
| Technical Assistance on Correspondent Banking Relationships | 2016 |
| AFRITAC South: Liquidity Management (various missions) | 2015–2018 |
| AFRITAC South: Inflation Forecasting Framework (various missions) | 2015–2018 |
| AFRITAC South: Macro-Prudential Analysis | 2016, 2017 |
| Capital Account Liberalization Workshop | 2015 |
| Technical Assistance Needs Assessment | 2014 |
| Technical Assistance Following the FSAP | 2013 |
| AFRITAC South: Risk-Based Supervision Framework | 2013 |
| Fiscal Affairs Department (FAD) | |
| VAT Implementation | 2016, 2017 |
| MTFF (incl. FRL and Fiscal Rules) | 2014, 2016 |
| Public Investment Management | 2015 |
| Subsidy Reform | 2014 |
| Tax Policy and Administration | 2014, 2015 |
| AFRITAC South: (incl. FRL and Fiscal Rules) (various missions) | 2014–2018 |
| AFRITAC South: Public Investment Management (various missions) | 2015, 2017 |
| AFRITAC South: Expenditure Control and Arrears (various missions) | 2014, 2016, 2017 |
| AFRITAC South: Customs and Tax Administration (various missions) | 2015–2018 |
| Statistics Department (STA) | |
| Government Finance Statistics | 2017 |
| External Sector Statistics | 2015 |
| Monetary and Financial Statistics (various missions) | 2014, 2016 ,2017 |
| AFRITAC South: Price Statistics | 2017 |
| AFRITAC South: National Accounts (various missions) | 2015–2018 |
| Institute for Capacity Development (ICD) | |
| Financial Programming and Policies for Angolan Officials | 2014 |
| Legal Department | |
| AML/CFT Framework | 2017, 2018 |
Resident Representative: Mr. Max Alier has been the IMF Resident Representative in Angola since May 2015.
Joint IMF-World Bank Management Action Plan
Implementation Matrix
Implementation Matrix
| Title | Products | Timing | Delivery Date |
|---|---|---|---|
| A. Mutual Information on Relevant Work Programs | |||
| Bank work program in next 12 months | Debt Management Technical Assistance | April 2018 | |
| Social Protection Public Expenditure Review | May 2018 | ||
| Commercial Agriculture Project | May 2018 | ||
| Social Safety Net Reform Project | July 2018 | ||
| Economic Diversification and Growth Report (Country Economic Memorandum) | August 2018 | ||
| Angola Macro Stabilization and Inclusive Growth DPO | October 2018 | ||
| Fiscal Decentralization Assessment | December 2018 | ||
| Money Laundering Advisory Service | Ongoing | ||
| Financial Sector Advisory Service | Ongoing | ||
| Support to Business Environment Reform | Ongoing | ||
| Strengthening Payment Systems Technical Assistance | Ongoing | ||
| IMF work program in next 12 months | Staff Visit Article IV Mission | September 2018 March 2019 | |
| B. Request for Work Program Inputs | |||
| Fund request to Bank | Regular briefings on DPL discussions. | Ongoing | |
| Bank request to Fund | Collaboration on providing full set of macroeconomic framework and tables | Ongoing | |
| C. Agreement on Joint Programs and Missions | |||
| Joint products in next | Continuous dialogue on economic forecasting and macroeconomic modeling issues | 12 months | Continuous |
| Exchange of information and consultations on macroeconomic developments | Continuous | ||
Implementation Matrix
| Title | Products | Timing | Delivery Date |
|---|---|---|---|
| A. Mutual Information on Relevant Work Programs | |||
| Bank work program in next 12 months | Debt Management Technical Assistance | April 2018 | |
| Social Protection Public Expenditure Review | May 2018 | ||
| Commercial Agriculture Project | May 2018 | ||
| Social Safety Net Reform Project | July 2018 | ||
| Economic Diversification and Growth Report (Country Economic Memorandum) | August 2018 | ||
| Angola Macro Stabilization and Inclusive Growth DPO | October 2018 | ||
| Fiscal Decentralization Assessment | December 2018 | ||
| Money Laundering Advisory Service | Ongoing | ||
| Financial Sector Advisory Service | Ongoing | ||
| Support to Business Environment Reform | Ongoing | ||
| Strengthening Payment Systems Technical Assistance | Ongoing | ||
| IMF work program in next 12 months | Staff Visit Article IV Mission | September 2018 March 2019 | |
| B. Request for Work Program Inputs | |||
| Fund request to Bank | Regular briefings on DPL discussions. | Ongoing | |
| Bank request to Fund | Collaboration on providing full set of macroeconomic framework and tables | Ongoing | |
| C. Agreement on Joint Programs and Missions | |||
| Joint products in next | Continuous dialogue on economic forecasting and macroeconomic modeling issues | 12 months | Continuous |
| Exchange of information and consultations on macroeconomic developments | Continuous | ||
Statistical Issues
(As of March 30, 2018)
| I. Assessment of Data Adequacy for Surveillance |
| General: Data provision has shortcomings, but is broadly adequate for surveillance. There are concerns about data quality and timeliness and efforts are underway to strengthen the statistical base, including through technical assistance from the Fund and World Bank. |
| Angola now has several regular and informative statistical publications, reflecting considerable progress in the provision of data and transparency in statistical reporting. Progress has been the strongest in the BNA and recently in the National Institute of Statistics (INE). Both now provide and publish much more extensive data on a timely basis. Data delivery and publication from the Ministry of Finance could be significantly improved. Data postings on the Ministry of Finance website include detailed revenues from the oil and diamond sectors and reports on public finances with a certain lag. |
| National Accounts: INE has yet to resume the dissemination of annual and quarterly national accounts after resolving quality issues noted in May 2017. The national accounts include annual GDP at current prices and volumes using chained-linking based on 2002 benchmarks. With support of Fund TA, INE is working to update the benchmarks and finalize estimates of the non-observed economy. The Ministry of Economy and Planning (MEP) continues to issue preliminary estimates and projections of annual GDP (output). Other important data bulletins are published by INE, including quarterly bulletins on business confidence, industrial production, and on merchandize trade. INE completed a national census count for 2014, the first in the four decades since independence. INE is conducting a household survey on employment, expenditure and income which is expected to be concluded by 2019Q1. |
| Price Statistics: INE publishes monthly reports on consumer and wholesale price indices. The CPI index was expanded to include consumer prices in all 18 provinces of the country. INE has also started to develop import and export unit value indices, including with the help of World Bank TA. |
| Government Finance Statistics: The timeliness and quality of government finance statistics needs to be substantially improved. Revenue and expenditures are correctly recorded on accrual basis but some issues persist when operations above- and below-the-line are reconciled. The Ministry of Finance publishes in its website detailed information on oil fiscal revenues. However, of the utmost importance, it should also publish regularly (at least on a quarterly basis) consolidated and detailed fiscal data. The Ministry of Finance should start publishing information on non-oil fiscal revenues monthly. All fiscal data should be published in electronic format (instead of PDF images, the case of oil revenues) to facilitate dissemination and users’ access. The Ministry also issues quarterly reports on oil fiscal revenues but with some lag. It has been reporting on a “modified” GFSM 1986 by using an adjustor to reconcile above the line fiscal data (recorded on an accrual basis) and below the line fiscal data (recorded on cash basis). Annual and monthly fiscal data are compiled according to GFSM 2001 standard. With the help of Fund TA, the Ministry of Finance is making efforts to improve fiscal data compilation in line with GFSM 2014 standard. |
| Monetary and Financial Statistics: Data for the depository corporation survey and the balance sheet of the BNA have been revised with the help of STA technical assistance. The data are now based on the new standardized report forms (SRFs). The BNA delivers data to the IMF on a timely basis. It also publishes comprehensive data on its webpage monthly. In October 2017, an STA’s mission assisted the authorities in expanding the coverage of MFS to the other financial corporation (OFC) sector based on SRF 4SR. The BNA is in the process of implementing the mission’s recommendations and producing an OFC survey. The BNA also publishes other reports. These include a quarterly inflation report as well as its annual report (summarizing monetary and macroeconomic as well as inflation developments), and a six-monthly financial stability report (assessing the stability of the financial system) but those publications are published with a long lag. |
| Financial Sector Surveillance: BNA data on financial soundness indicators are published monthly, but not reported to STA for publication on the IMF’s website (latest submitted data: 2015Q4). The quality of financial soundness indicators should be improved along with the recommendations from STA technical assistance. The usefulness of the BNA’s Financial Stability Report could be enhanced by being more up to date, as the last report was published in mid-2017. |
| External Sector Statistics: The balance of payments and international investment position are compiled in line with the recommendations of the sixth edition of the IMF’s Balance of Payments Manual. These statistics are compiled and disseminated annually, with a lag of about nine months after the reference period. A technical assistance mission from STA on external sector statistics was conducted in November 2015. It reviewed the implementation of the recommendations of previous TA missions and found that progress has been made, especially regarding the automatization of the compilation process. The mission made recommendations on the compilation procedures and the coverage and quality of the series to improve the consistency between flows and stocks. Quarterly reporting of IIP and BOP started in January 2017 but is only done once in a year. Inconsistencies between annual and quarterly data continue to affect timeliness of quarterly IIP and BOP, due to issues related to services data. Data coverage and consistency between BOP and IIP remain the major shortcomings as gaps in private sector external debt transactions and positions persist. Also, coordination among statistical agencies and source data suppliers needs to be addressed. |
| II. Data Standards and Quality |
| Angola has participated since 2004 in the General Data Dissemination System (GDDS), which was superseded by the enhanced GDDS (e-GDDS) in 2015. The authorities have recently submitted metadata updates for publication on the IMF’s Dissemination Standards Bulletin Board. |
| I. Assessment of Data Adequacy for Surveillance |
| General: Data provision has shortcomings, but is broadly adequate for surveillance. There are concerns about data quality and timeliness and efforts are underway to strengthen the statistical base, including through technical assistance from the Fund and World Bank. |
| Angola now has several regular and informative statistical publications, reflecting considerable progress in the provision of data and transparency in statistical reporting. Progress has been the strongest in the BNA and recently in the National Institute of Statistics (INE). Both now provide and publish much more extensive data on a timely basis. Data delivery and publication from the Ministry of Finance could be significantly improved. Data postings on the Ministry of Finance website include detailed revenues from the oil and diamond sectors and reports on public finances with a certain lag. |
| National Accounts: INE has yet to resume the dissemination of annual and quarterly national accounts after resolving quality issues noted in May 2017. The national accounts include annual GDP at current prices and volumes using chained-linking based on 2002 benchmarks. With support of Fund TA, INE is working to update the benchmarks and finalize estimates of the non-observed economy. The Ministry of Economy and Planning (MEP) continues to issue preliminary estimates and projections of annual GDP (output). Other important data bulletins are published by INE, including quarterly bulletins on business confidence, industrial production, and on merchandize trade. INE completed a national census count for 2014, the first in the four decades since independence. INE is conducting a household survey on employment, expenditure and income which is expected to be concluded by 2019Q1. |
| Price Statistics: INE publishes monthly reports on consumer and wholesale price indices. The CPI index was expanded to include consumer prices in all 18 provinces of the country. INE has also started to develop import and export unit value indices, including with the help of World Bank TA. |
| Government Finance Statistics: The timeliness and quality of government finance statistics needs to be substantially improved. Revenue and expenditures are correctly recorded on accrual basis but some issues persist when operations above- and below-the-line are reconciled. The Ministry of Finance publishes in its website detailed information on oil fiscal revenues. However, of the utmost importance, it should also publish regularly (at least on a quarterly basis) consolidated and detailed fiscal data. The Ministry of Finance should start publishing information on non-oil fiscal revenues monthly. All fiscal data should be published in electronic format (instead of PDF images, the case of oil revenues) to facilitate dissemination and users’ access. The Ministry also issues quarterly reports on oil fiscal revenues but with some lag. It has been reporting on a “modified” GFSM 1986 by using an adjustor to reconcile above the line fiscal data (recorded on an accrual basis) and below the line fiscal data (recorded on cash basis). Annual and monthly fiscal data are compiled according to GFSM 2001 standard. With the help of Fund TA, the Ministry of Finance is making efforts to improve fiscal data compilation in line with GFSM 2014 standard. |
| Monetary and Financial Statistics: Data for the depository corporation survey and the balance sheet of the BNA have been revised with the help of STA technical assistance. The data are now based on the new standardized report forms (SRFs). The BNA delivers data to the IMF on a timely basis. It also publishes comprehensive data on its webpage monthly. In October 2017, an STA’s mission assisted the authorities in expanding the coverage of MFS to the other financial corporation (OFC) sector based on SRF 4SR. The BNA is in the process of implementing the mission’s recommendations and producing an OFC survey. The BNA also publishes other reports. These include a quarterly inflation report as well as its annual report (summarizing monetary and macroeconomic as well as inflation developments), and a six-monthly financial stability report (assessing the stability of the financial system) but those publications are published with a long lag. |
| Financial Sector Surveillance: BNA data on financial soundness indicators are published monthly, but not reported to STA for publication on the IMF’s website (latest submitted data: 2015Q4). The quality of financial soundness indicators should be improved along with the recommendations from STA technical assistance. The usefulness of the BNA’s Financial Stability Report could be enhanced by being more up to date, as the last report was published in mid-2017. |
| External Sector Statistics: The balance of payments and international investment position are compiled in line with the recommendations of the sixth edition of the IMF’s Balance of Payments Manual. These statistics are compiled and disseminated annually, with a lag of about nine months after the reference period. A technical assistance mission from STA on external sector statistics was conducted in November 2015. It reviewed the implementation of the recommendations of previous TA missions and found that progress has been made, especially regarding the automatization of the compilation process. The mission made recommendations on the compilation procedures and the coverage and quality of the series to improve the consistency between flows and stocks. Quarterly reporting of IIP and BOP started in January 2017 but is only done once in a year. Inconsistencies between annual and quarterly data continue to affect timeliness of quarterly IIP and BOP, due to issues related to services data. Data coverage and consistency between BOP and IIP remain the major shortcomings as gaps in private sector external debt transactions and positions persist. Also, coordination among statistical agencies and source data suppliers needs to be addressed. |
| II. Data Standards and Quality |
| Angola has participated since 2004 in the General Data Dissemination System (GDDS), which was superseded by the enhanced GDDS (e-GDDS) in 2015. The authorities have recently submitted metadata updates for publication on the IMF’s Dissemination Standards Bulletin Board. |
Angola: Common Indicators Required for Surveillance
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
INE has yet to resume the dissemination of annual and quarterly national accounts. The Ministry of Economy and Planning (MEP) has published annual GDP estimates up to 2017. Staff has estimated nominal GDP for 2016–2017 based on MEP information.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Daily (D); weekly (W); monthly (M); quarterly (Q); annually (A); irregular (I); and not available (NA).
Angola: Common Indicators Required for Surveillance
| Date of latest observation (mm/dd/yy) | Date received | Frequency of Data8 | Frequency of Reporting8 | Frequency of Publication8 | |
|---|---|---|---|---|---|
| Exchange Rates | 03/30/18 | 03/30/18 | D | D | D |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | 02/18 | 03/18 | M | M | M |
| Reserve/Base Money | 02/18 | 03/18 | M | M | M |
| Broad Money | 02/18 | 03/18 | M | M | M |
| Central Bank Balance Sheet | 02/18 | 03/18 | M | M | M |
| Consolidated Balance Sheet of the Banking System | 02/18 | 03/18 | M | M | M |
| Interest Rates2 | 03/30/18 | 03/30/18 | W | W | W |
| Consumer Price Index | 02/18 | 03/18 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing3 – General Government4 | NA | NA | NA | NA | NA |
| Revenue, Expenditure, Balance and Composition of Financing3– Central Government | 12/17 (prel.) | 03/18 | Q | Q | Q |
| Stocks of Central Government and Central Government-Guaranteed Debt5 | 12/17 (prel.) | 03/18 | A | A | A |
| External Current Account Balance | Q4/16 | 08/17 | Q | Q | |
| Exports and Imports of Goods and Services | 2016 (est.) | 08/17 | A | A | A |
| GDP/GNP6 | 2017 (est.) | 03/18 | A | A | A |
| Gross External Debt | 12/17 (prel.) | 03/18 | A | A | A |
| International Investment Position7 | Q4/16 | 08/17 | Q | Q | A |
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
INE has yet to resume the dissemination of annual and quarterly national accounts. The Ministry of Economy and Planning (MEP) has published annual GDP estimates up to 2017. Staff has estimated nominal GDP for 2016–2017 based on MEP information.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Daily (D); weekly (W); monthly (M); quarterly (Q); annually (A); irregular (I); and not available (NA).
Angola: Common Indicators Required for Surveillance
| Date of latest observation (mm/dd/yy) | Date received | Frequency of Data8 | Frequency of Reporting8 | Frequency of Publication8 | |
|---|---|---|---|---|---|
| Exchange Rates | 03/30/18 | 03/30/18 | D | D | D |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | 02/18 | 03/18 | M | M | M |
| Reserve/Base Money | 02/18 | 03/18 | M | M | M |
| Broad Money | 02/18 | 03/18 | M | M | M |
| Central Bank Balance Sheet | 02/18 | 03/18 | M | M | M |
| Consolidated Balance Sheet of the Banking System | 02/18 | 03/18 | M | M | M |
| Interest Rates2 | 03/30/18 | 03/30/18 | W | W | W |
| Consumer Price Index | 02/18 | 03/18 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing3 – General Government4 | NA | NA | NA | NA | NA |
| Revenue, Expenditure, Balance and Composition of Financing3– Central Government | 12/17 (prel.) | 03/18 | Q | Q | Q |
| Stocks of Central Government and Central Government-Guaranteed Debt5 | 12/17 (prel.) | 03/18 | A | A | A |
| External Current Account Balance | Q4/16 | 08/17 | Q | Q | |
| Exports and Imports of Goods and Services | 2016 (est.) | 08/17 | A | A | A |
| GDP/GNP6 | 2017 (est.) | 03/18 | A | A | A |
| Gross External Debt | 12/17 (prel.) | 03/18 | A | A | A |
| International Investment Position7 | Q4/16 | 08/17 | Q | Q | A |
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
INE has yet to resume the dissemination of annual and quarterly national accounts. The Ministry of Economy and Planning (MEP) has published annual GDP estimates up to 2017. Staff has estimated nominal GDP for 2016–2017 based on MEP information.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Daily (D); weekly (W); monthly (M); quarterly (Q); annually (A); irregular (I); and not available (NA).
For a description of the IMF Safeguards Assessment framework, see http://www.imf.org/external/np/exr/facts/safe.htm.