Angola: Sixth Review Under the Stand-By Arrangement, Request for Waivers of Nonobservance of Performance Criteria, and Proposal for Post-Program Monitoring: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Angola

International Monetary Fund

No 2012/103, IMF Staff Country Reports from International Monetary Fund

Abstract: This report discusses Angola’s sixth review under the Stand-By Arrangement (SBA) and request for waivers of nonobservance of performance criteria. Three years after the abrupt decline in world oil prices that severely impacted its economy, Angola has reached a sharply improved fiscal position, a more comfortable level of net international reserves, and a stable exchange rate. The authorities have embarked on far-reaching institutional reforms to enhance accountability in public spending and predictability in oil revenue transfers.

Keywords: ISCR; CR; State oil company; government; disbursement equivalent; equivalent; Fund advice; equivalent to SDR; reconciliation report; Oil; gas and mining taxes; Oil prices; Fiscal stance; Global; oil revenue transfer; reform momentum; Oil sector (search for similar items in EconPapers)
Pages: 53
Date: 2012-05-09
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