The International Monetary Fund said its board had completed the first review under Angola’s extended arrangement and approved a disbursement of $248.15 million, taking the total of such payments to about $1.24 billion.
“The Angolan authorities have demonstrated strong commitment to policies under the Fund-supported programme,” the IMF’s first deputy managing director and acting chair, David Lipton, said in a statement.
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“However, a weakened external environment, notably the heightened volatility in the international price of crude oil, is posing challenges to their reform efforts.”
