The International Monetary Fund (IMF) has lowered Angola’s 2025 growth forecast to 2.4% from 3%, citing falling oil prices and tighter external financing conditions, following a recent mission to Luanda.
The fund noted that the downgrade “also poses risks to fiscal performance.” Angola, heavily reliant on oil exports, paid $200 million in extra security for a $1 billion JPMorgan loan amid last month’s risk asset selloff, highlighting the vulnerability of small, open African economies.
Despite these challenges, the IMF said it was reassured by the Angolan government’s commitment to addressing risks and implementing mitigating measures.
The mission was part of a Post Financing Assessment for countries with large outstanding IMF credit and no current program.
Separately, IMF Africa department head Abebe Aemro Selassie met Angola’s President João Lourenço to discuss the economic outlook.