The International Monetary Fund has approved the immediate disbursement of $772 million to Angola as part of a three-year arrangement signed in 2018 to reform its economy.
The fund says It was the latest tranche of a $3.7 billion facility granted to the southern African nation to improve governance and diversify its economy to promote sustainable, private sector-led economic growth.
The Fund’s board also indicated it favours an extension of the country’s debt service moratorium until the end of December 2021.
The IMF had also authorized a credit increase of $765 million to help Angolan authorities fight the disease.
The board also approved Angola’s request to change performance criteria as part of its three-year program.