Angola: Fifth Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Angola

Near-term macroeconomic prospects continue to improve in the context of higher oil prices and a gradual global recovery from pandemic shock, but medium-term outlook remains challenging highly uncertain. Oil production muted, debt inflation remain elevated, non-oil activity is expected recover only gradually. However, continued strong fiscal performance (aided by revenues), exchange rate stabilization, return positive growth would contribute reduction debt-to-GDP ratio this year, easing vulnerabilities.