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Sun, 31 Jan 2016 12:57 - Updated Sun, 31 Jan 2016 12:57

World Bank technicians discuss loan programme operation

Luanda - A World Bank mission ended on Friday a working visit to Angola in order to negotiate with the Angolan authorities the second operation DPL (Development Programme Loan - Loan Programme for Development), according to a statement from the Ministry of Finance.

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During his last meeting with the Finance Minister, Armando Manuel, on Friday, says the document that reached Angop, the head of the World Bank mission, Rafael Barroso reiterated the availability of that financial institution to help the country.

It is the help to implement the recommended reforms by March 2016 so that the country can benefit from funding until June.

The World Bank mission was in Luanda in order to review the previous actions and assess the degree of compliance with previously agreed actions between the parties under the first operation of DPL facility, as well as to follow up the negotiations concerning the granting of the second operation by that institution, regarding its support to the implementation and completion of the second phase programme.

The mission took note of the impact of the decrease in oil prices in the Angolan economy, as well as the effects on the expected execution of the State Budget (OGE) for the year 2016 and expressed its satisfaction as the measures already taken and to be taken in the context of the strategy in the face of adversity, either on the expenditure side or the revenue side.

According to the note, the Angolan side shared with the World Bank technicians some preliminary data on the fiscal results of the financial year of 2015, marked by stability and fiscal and macroeconomic sustainability.

The World Bank team was in the country on 25-29 January and held several meetings with officials from the Ministries Planning and Territorial Development, Urbanisation and Housing, Social Welfare, as well as experts from the National Bank of Angola, Sonangol, Social Aid Fund and the General Tax Administration.

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