Jump to navigation

Vol 51 No 10

Published 14th May 2010


The IMF makes up with Luanda

Prior to the global financial crisis in 2008, many were questioning the International Monetary Fund’s relevance, especially in African countries which were increasingly turning to the international financial markets to raise funds. For those which secured countertrade deals with China, the IMF was usually unable to compete with the terms on offer. For years, Angola’s government resisted agreement on a financing programme with the IMF on the grounds that it undermined economic sovereignty. IMF demands for budgetary accountability and public financial reporting were particularly irksome.

End of preview - This article contains approximately 258 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.

If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.