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Angola asks IMF for bailout talks

Angola has asked the IMF for talks on a bailout, promising more structural reform to the sub-Saharan nation’s economy in return.

A statement from the IMF’s Deputy Managing Director confirmed that Angolan authorities had written to the organisation to initiate discussions on an economic program that could be supported by the IMF’s fund for countries experiencing serious payment imbalances or slow growth and weak balance of payments positions.

“The Government of President Lourenço has taken important steps toward improving governance and restoring macroeconomic stability. The IMF stands ready to help the authorities address Angola’s economic challenges by supporting their economic policies and reforms,” the IMF said.

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