/ 21 July 1999

NEW IMF PLAN IN ANGOLA

THE International Monetary Fund is expected to implement a new economic monitoring programme in Angola. The programme is designed to pave the way for future financial aid to the southern African country. The programme stipulates strict expenditure controls, reductions in the number of civil servants, drops in inflation rates, and more transparency in its accounts. The government will also have to gradually remove its foreign exchange laws and privatise the banking industry.