Angola
The International Monetary Fund has offered Angola a $4.5 billion loan as it continues to grapple with falling oil prices.
Angola’s economy grew rapidly after the end of its 27-year civil war with oil production fueling a boom in the capital Luanda.
The IMF in a statement said Angola’s outlook for 2016 remained difficult despite an increase of oil prices in recent weeks adding that economic activity will likely decelerate further.
It also said that the country’s GDP growth had slowed to three percent last year and that inflation was at an annualized 26 percent to May.
Angola had asked for the loan when oil prices were lower than the current rate but authorities have however still not confirmed the loan sum.
Between 2009-2012, the IMF gave the country $1.4 billion to help it resolve domestic debts, stabilise its exchange rate and shore up its international reserves.
![Africa CEO Forum: What If Africa Set the Rules? [Business Africa]](https://static.euronews.com/articles/stories/09/27/46/96/320x180_cmsv2_01295edd-3441-5908-8c4e-adb7e75b9f71-9274696.jpg)
Go to video
Egypt and Angola strengthen bilateral ties during Cairo meeting
Go to video
IMF: Global uncertainty weighing on MENA economies
01:36
Migration and refugee policies key to economic growth, Say UN and IMF experts
Go to video
DR Congo and M23 rebels to hold direct talks after months of fighting
00:47
IMF Approves $1.2 Billion Disbursement for Egypt Amid Economic Reforms
Go to video
WTO and IMF warn of global trade disruptions a new U.S. tariffs