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IMF approves disbursement of $248.15 mln under Angola's credit facility

Credit: REUTERS/Yuri Gripas

The International Monetary Fund said its board had completed the first review under Angola’s extended arrangement and approved a disbursement of $248.15 million, taking the total of such payments to about $1.24 billion.

JOHANNESBURG, June 13 (Reuters) - The International Monetary Fund said its board had completed the first review under Angola’s extended arrangement and approved a disbursement of $248.15 million, taking the total of such payments to about $1.24 billion.

"The Angolan authorities have demonstrated strong commitment to policies under the Fund-supported program," the IMF's first deputy managing director and acting chair, David Lipton, said in a statement.

"However, a weakened external environment, notably the heightened volatility in the international price of crude oil, is posing challenges to their reform efforts."

(Reporting by Tanisha Heiberg; Editing by Clarence Fernandez)

((Tanisha.Heiberg@thomsonreuters.com; +27117753034; Reuters Messaging: tanisha.heiberg.thomsonreuters.com@reuters.net))

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