IMF Concludes 2025 Angola Post-Financing Review

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF's Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF's Executive Board for discussion and decision.

Angola's economic growth for 2024 was strong, but the outlook has deteriorated posing risks.
Staff and authorities had a productive engagement on managing emerging risks and identifying mitigation measures.
Angola's Post-Financing Assessment is expected to be discussed at the Executive Board of the International Monetary Fund (IMF) in July 2025.

Luanda, Angola: An IMF team lead by Ms. Mika Saito visited Luanda between May 6-12 to conduct Angola's 2025 post-financing assessment (PFA). [1] Angola's economy experienced a robust recovery in 2024 driven both by stronger oil production and a rebound in the non-oil sector. Real GDP growth reached 4.4 percent, surpassing earlier projections. While inflation remains elevated, inflationary pressures also eased somewhat in the first few months of 2025. The outlook has, however, deteriorated significantly compared to the 2024 Article IV consultation, reflecting a fall in oil prices and tighter external financing conditions. As a result, the preliminary growth projection for 2025 has been revised down to 2.4 percent from 3 percent in the 2024 Article IV consultation, while inflation is expected to continue its gradual decline. This downward revision to the outlook also poses risks to fiscal performance. Staff was reassured by authorities' strong resolve in containing emerging risks and in identifying mitigating measures critical to preserve macroeconomic stability and debt sustainability, while protecting the most vulnerable and growth momentum. The IMF team thanks the authorities for their productive engagement and hospitality. Angola's 2025 PFA is expected to be discussed at the IMF Executive Board in July 2025.

[1] A Post Financing Assessment (PFA)¹ is expected for countries with outstanding credit above the absolute or quota-based thresholds that do not have an IMF-supported program or a staff-monitored program. It reports on the member's policies, the consistency of the macroeconomic framework with the objective of medium-term viability and the implications for the member's capacity to repay the Fund.

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