Angola more likely to tap IMF loan after oil price drop, finance minister says

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Angola more likely to tap IMF loan after oil price drop, finance minister says

//business-finance.news-articles.net/content/202 .. -after-oil-price-drop-finance-minister-says.html

Published in Business and Finance on Sunday, May 11th 2025 at 12:21 GMT by
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

A slide in crude oil prices is increasing the likelihood that Angola will need an International Monetary Fund loan, Finance Minister Vera Daves de Sousa told Reuters, adding the government is running stress tests to gauge the impact on its finances.

Angola's Finance Minister, Vera Daves de Sousa, announced that the country is conducting stress tests to prepare for potential lower oil prices, as advised by the International Monetary Fund (IMF), during a meeting with investors in Luanda on April 25, 2025. The stress tests are part of Angola's strategy to manage its economic stability amidst fluctuating oil prices, given that oil accounts for more than 90% of the country's exports. The minister emphasized the importance of diversifying the economy and reducing dependency on oil revenues, highlighting ongoing efforts to develop other sectors such as agriculture and manufacturing. Additionally, Angola is working on improving its fiscal management and transparency to attract more foreign investment and support sustainable economic growth.

Read the Full reuters.com Article at:
[ https://www.reuters.com/business/energy/angolas-finance-minister-says-country-stress-testing-lower-oil-prices-imf-2025-04-25/ ]

N🟁N

Angola more likely to tap IMF loan after oil price drop, finance minister says