IMF grants Angola $487 million under Extended Fund Facility

Published
Angola has been granted 487 million dollars under an Extended Fund Facility agreement by the International Monetary Fund. The grant will be used to restore the country's external and fiscal sustainability, improve governance and diversify the economy to promote sustainable economic growth driven by the private sector. However, the grant is below what the Angolan authorities were expecting. Finance Minister, Vera Daves de Sousa, had earlier said that her country was expecting 700 million dollars. This new financing brings the total amount granted by the IMF to the Southern African country to 3 billion dollars.

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Category
Angola
Tags
angola, imf, loan