LUANDA – The International Monetary Fund is considering a 27-month US$1,4 billion loan to Angola and should announce a decision soon, a fund spokesman said on Monday.
‘The board of the IMF is considering the loan and should soon reach a decision,’ IMF spokesman Andreas Adriano told Reuters. He added that the board of the IMF was currently meeting and should reach a decision later on Monday.If approved, the loan would be one of the largest agreed with an African country. A senior IMF director said on October 3 that the IMF was recommending a US$1,3 billion loan program for Angola to its board. IMF deputy managing director Takatoshi Kato commended Angolan authorities ‘for their strong commitment to a comprehensive reform programme that addresses the macroeconomic imbalances which emerged in the face of the global economic crisis.’’The authorities are committed to take further steps to improve fiscal management over the medium-term, increase non-oil revenues by reforming the tax system, and de-link the fiscal stance from short-term movements in oil revenues,’ Kato added.- Nampa-Reuters
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