Angola: Staff Report for the 2022 Article IV Consultation—Supplementary Information
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International Monetary Fund. African Dept.
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ANGOLA

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ANGOLA

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ANGOLA

STAFF REPORT FOR THE 2022 ARTICLE IV CONSULTATION—SUPPLEMENTARY INFORMATION

February 16, 2023

Prepared By

African Department

This statement provides information that has become available since the issuance of the staff report for the 2022 Article IV Consultation (SM/23/34). The update does not affect the thrust of the staff appraisal

1. Inflation slowed to 12.6 percent y/y in January, from 13.9 percent in December. This was the 12th straight month of declining inflation, with food inflation increasing at a slower pace than headline. On a month-on-month basis, headline inflation eased to 0.8 percent, from 0.9 percent in December.

2. Historical BOP data for 2019–2021 has been updated, considering new information provided by the Banco Nacional de Angola (BNA) (table below). The BNA confirmed that its historical BOP data includes “IMF and other multilateral financing” in the “loans” category under the Financial Account. The BNA also clarified that its reserves accumulation data excludes changes in reserves due to asset revaluation. These updates do not affect staff BOP projections.

Angola : Updates to Balance of Payments Table

(Millions of US Dollars)

article image
A: Excluded exceptional financing from loans as BNA confirmed that they have included it in their Financial Account. B: Adopted BNA's figures, which exclude changes in the intern ational reserves due to revaluation. Sources: BNA and staff calculations.

Angola: Updates to Balance of Payments Table

(Millions of US Dollars)

article image
A: Excluded exceptiional financing from loans as BNA confirmed that they have included it in their Financial Account. B: Adopted BNA's figures, which exclude changes in the international reserves due to revaluation. Sources: BNA and staff calculations.
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