LUANDA, Angola (Reuters) – Angola is just not in talks with the Worldwide Financial Fund on a brand new monetary help programme, its finance ministry mentioned on Tuesday, prompting a slide in its international sovereign bonds.
The southern African oil exporter mentioned it had requested the IMF for “a notice geared toward updating its technical view on the choices for responding to danger eventualities”,
“There are at the moment no negotiations with the Fund on a potential monetary help program,” the finance ministry mentioned in an announcement.
An IMF spokesperson mentioned it had not acquired any request for a programme, however maintained a “very shut engagement with Angola authorities” on the areas of coverage recommendation and technical help.
Angola’s authorities anticipates a finances deficit of 1.65% of gross home product in 2025, barely increased than this 12 months.
Finance minister Vera Daves de Sousa instructed Reuters in October that the prospect of decrease oil costs was placing strain on the nation, and that Angola was internally analyzing the opportunity of requesting an IMF financing programme.
Whereas Brent crude costs had been just a little increased at $73.44 per barrel at 1500 GMT, Angola’s greenback bonds fell by as a lot as 1.3 cents, with the 2048 maturity bidding at 82.41 cents on the greenback.
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