Angola seeks a new loan of $165 million from the African Development Bank
To support the most vulnerable groups and manage debt burdens
The Angolan government continues its efforts to strengthen its financial stability by negotiating external loans, at a time when it faces economic challenges related to the volatility of global markets and the repercussions of the war in the Middle East, with a focus on supporting the most vulnerable groups and managing debt burdens.
Negotiations with the African Development Bank
Angolan Finance Minister Vera Davis de Souza confirmed that the government is in talks to secure a $165 million loan from the Development Bank. African To support the budget.
She explained that this step is still being implemented, as it requires the implementation of a number of reforms and policies before it can be presented to the bank's board of directors for approval.
$3.8 billion external financing plan
Angola aims to raise about $3.8 billion in external financing this year, and has already secured $2.9 billion.
It is seeking to cover the remaining amount of about $1 billion through bilateral loans or international markets, while revising revenue forecasts to reduce the size of the borrowing if possible.
According to reports, Angola, as an oil-producing country, benefits from the rise in global crude oil prices. It has adopted a reference price of $61 per barrel in its 2026 budget, while the price of Brent crude is approaching $100, providing additional revenues that support the financial situation.
Angola's position on the International Monetary Fund
Despite the challenges, the finance minister affirmed that the government is not currently planning to seek a financing program from the International Monetary Fund, but remains prepared to do so should circumstances warrant. Instead, it is leveraging the IMF's technical assistance in improving tax revenues, analyzing expenditures, and implementing reforms.
The World Bank recently approved a guarantee for a debt-swap program aimed at financing the construction of new schools. The government seeks to finalize this swap by June, as part of its efforts to support the education sector and promote development.
