Current Account in Angola

Angola Current Account | Economic News & Forecasts

Angola - Current Account

On 7 December, the IMF approved a USD 3.7 billion credit facility for Angola to support structural reforms pursued by President João Lourenço’s government and help the country restore external and fiscal sustainability. The approval allows for an immediate disbursement of around USD 990 million, with the rest of the funds scheduled to be phased in over a period of three years. The Fund’s decision came against the backdrop of an ongoing recession. Economic sentiment deteriorated again in Q3 and slid to a one-year low as ongoing economic reforms had little impact on boosting confidence in the country’s all-important commercial, manufacturing and construction sectors, all of which remained deeply entrenched in negative territory. Available fourth-quarter data paints a mixed mixture: Angola’s oil production fell again in October from the previous month, although it rebounded in November. Nevertheless, plummeting global oil prices suggest the economy will again finish this year stuck in deep recession.

Angola - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)6.0  -2.6  -8.9  -3.0  -     

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Angola Current Account Chart

Angola Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of Angola

Angola Facts

Exchange Rate309.40.0 %Jan 16
Stock Market0.10.0 %Jan 16

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