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Mon, 21 Oct 2019 10:18 - Updated Mon, 21 Oct 2019 11:13

American and French institutions support Angola's economic reforms

Luanda - The US Treasury Department and the French Development Agency manifested last Friday, in Washington, availability to support the macroeconomic reforms being conducted by the Angolan Executive.

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The director of the French Development Agency (AFD), Rémy Rioux, assured the Angolan Finance minster, Vera Daves, that his institution supports the implementation of the macroeconomic reforms programme in progress in Angola.

''We are proud of being a new partner for Angola and we are willing to contribute to the resumption of economic growth'', he said.

The AFD settled in Angola in 2018, financing projects in the agriculture and water sectors, but it also studies the possibility to invest in other sectors, which may be materialised very soon with the signing of new agreements.

In Washington, the Angolan delegation held a meeting with the US Treasury Department team led by Eric Mayer, who gave some explanation about structural reforms, focusing on policies relating to taxation, exchange rate and monetary support, having also given an account of the support his institution has been providing in terms of technical assistance to Angola.

In the American capital, the Angolan Finance minister, Vera Daves, presented the structural reform measures, highlighting fiscal consolidation from the perspective of expenditure and revenue.

Vera Daves highlighted the progressive work to expand the electronic public procurement system, as well as measures to boost tax revenue and the privatization of companies.

At the meeting with the head of the Angolan Central Bank (BNA), Jose de Lima Massano, and the director of the Financial Information Unit, Francisca de Brito, they went through the measures to revise the legislative and institutional framework of the financial system, notably the revision of the Anti-Terrorist Financing Act and the fight against money laundering, the review of the Financial Institutions Law, BNA's law and the system that will introduce the standard of electronic payment.

The Angolan delegation has been holding meetings with the Breton Woods organizations.

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