Dear subscriber [name],
We are sending our most recent Flash Note.
Highlights:
-
On September 16, the IMF approved the EFF Program 3rd review, following a postponement of the decision, initially scheduled for July 30;
-
The approval resulted in a disbursement of USD 1000 million, 369 of which are part of an increase in the total IMF loan amount, by 739 million;
-
According to the IMF, Angola reached an agreement to “substantially” ease its debt service obligations with two large creditors, while negotiations with a third large creditor failed: payments to that creditor will be rescheduled under the G20 Debt Service Suspension Initiative (DSSI);
-
Although the Fund anticipates a 4.0% drop in GDP for 2020, there are alternative indicators that point to a more serious scenario;
-
These suspended debt repayments, together with extra funds made available by different multilaterals, will prevent an even harsher fiscal consolidation process.
Best regards,
BFA
If you wish to cancel your subscription, please click here.
Company Headquarters
Rua Amílcar Cabral, 58, Maianga – Luanda
Telephone: 222 638 900 • Fax: 222 638 911
www.bfa.ao
|
|
|
Available 24 hours a day. If you have questions,
suggestions or complaints, talk to us.
|
|
|
This message (including any attachments) is intended only for the use of the individual or entity to which it is addressed and may contain information that is non-public, proprietary, privileged, confidential, and exempt from disclosure under applicable law or may constitute as attorney work product. If you are not the intended recipient, you are hereby notified that any use, dissemination, distribution, or copying of this communication is strictly prohibited. If you have received this communication in error (i) destroy this message if a hard copy or (ii) delete this message and any attachments if this is an electronic communication. This message and any attachments are the exclusive responsibility of the sender, and BFA cannot be held liable for any eventual consequences that may arise from it.
Banco de Fomento Angola©2023.
All rights reserved.
|
|
|
|