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Angola: Government Should Continue Reform Plans, Abolish Fuel Subsidies – IMF

Angola: Government Should Continue Reform Plans, Abolish Fuel Subsidies – IMF

The International Monetary Fund ( IMF) on Wednesday encouraged the Angolan government to continue reforms, including the removal of fuel subsidies, in order to better adapt to world shocks, especially those in the oil market.

The deputy director of the IMF, Antoinette Sayeh, was speaking to journalists after being received today in Luanda by the Angolan president, João Lourenço, and welcomed the reforms underway in the Portuguese-speaking country, saying that they must continue.

“Angola, as an oil producing country, will have to continue to face up to this process (of reforms), because we know that oil prices are volatile and Angola will, of course, need to make more and more efforts to adapt to these shocks,” she said.

Antoinette Sayeh also encouraged the Angolan government to “continue these reforms, especially those started last year on removing fuel subsidies.

The process of removing state subsidies on fuel began in 2023 and continued this March, with the withdrawal of exemptions for taxi drivers, despite criticism and claims about the social and economic reality of families, who complain about the daily rise in basic food basket goods.

With the Angolan president, the IMF’s deputy director also said that she had discussed the need to strengthen social services in order to support, above all, the most vulnerable members of the community, in the light of the reforms underway, “so that they feel the presence of the government”.

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“In this case, the government should continue to have a good communication programme about the need to undertake these reforms, as well as strengthening other areas that are necessary so that the reforms can be reflected in the lives of citizens,” she pointed out.

The diversification of the economy, the fight against corruption, “in order to create a good business environment in Angola,” and the actions underway in Angola in the field of education and professional training were also topics covered at the meeting, as Antoinette Sayeh emphasised.

Lusa

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