IMF Commends Angola’s Economic Reforms, Pledges Continued Support Amid Global Uncertainties

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The International Monetary Fund (IMF) has formally acknowledged the significant progress made under Angola’s economic reform agenda, praising the government’s approach as highly prudent and strategically sound. The endorsement came from Abebe Aemro Selassie, the IMF’s Director for Africa, following a high-level meeting with Angolan President João Lourenço at the presidential palace in Cidade Alta on Tuesday.

Selassie applauded Angola’s consistent adherence to fiscal discipline and its concerted efforts to recalibrate macroeconomic policy. He emphasised that the reforms undertaken in recent years have begun to yield tangible results, stabilising the national economy and reinforcing the foundations for sustainable growth. “We congratulated the President on the progress achieved. The measures taken are yielding results, and the strategy remains well-calibrated,” Selassie stated during a media briefing.

While the meeting did not result in any new financial agreements, Selassie reaffirmed the IMF’s readiness to provide support should Angola face renewed economic challenges. This offer comes against the backdrop of ongoing volatility in global oil markets and external trade pressures that continue to pose risks to commodity-dependent economies like Angola. “If there are economic difficulties, even with the current policies in place, and the Angolan government reaches out to the Fund, we will be available to help,” he assured.

The discussions also touched on broader economic concerns, including the rising cost of living and Angola’s strategies to mitigate the impact on vulnerable populations. In addition, Selassie and President Lourenço exchanged views on the wider African and global economic climate. President Lourenço, who currently serves as Chair of the African Union, shared insights into the continent’s evolving economic challenges and the importance of regional cooperation in addressing them.

The IMF’s endorsement is seen as a strong signal of international confidence in Angola’s reform trajectory. Since the country’s deep economic downturn was triggered by the oil price collapse, the government has focused on diversifying the economy, increasing fiscal transparency, and stabilising public finances.

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As Angola continues to advance its reform and development agenda amid global uncertainties, the IMF’s readiness to provide support if needed offers a crucial layer of macroeconomic reassurance. This backing further strengthens Angola’s position as it seeks to build a resilient, diversified, and inclusive economy.