IMF says Angola needs fiscal consolidation to sustain economic stability

Sept 9 (Reuters) – The International Monetary Fund said on Wednesday that Angola should pursue fiscal consolidation, prudent monetary policy and exchange-rate flexibility to preserve macroeconomic stability, warning that favorable external conditions had weakened the pace of economic reforms needed to reduce the country’s dependence on oil.

An IMF staff team led by Mika Saito held discussions in Luanda and virtually from August 24 to September 9 as part of Angola’s Post-Financing Assessment, the fund said in a statement released at the end of the mission.

The IMF said Angola’s 2026 Post-Financing Assessment is expected to be discussed by its board in November.

(Reporting by Ruchika Khanna in Bengaluru, Editing by Franklin Paul)