Luanda turns down IMF funding

Angola has opted not to pursue an extended fund facility (EFF) from the International Monetary Fund (IMF) that would have offered significant funding alongside tough conditionality, and will instead seek only technical assistance. “The president of the republic has informed the IMF of the government’s decision to continue their policy dialogue with the fund only within the context of the Article IV consultation and not through discussion concerning an EFF supported programme,” IMF spokesman Gerry Rice told a news briefing in Washington on 28 June.