LUANDA, Dec. 10 (Xinhua) -- Angolan government and the International Monetary Fund (IMF) signed on Tuesday a public finance management agreement for the implementation of a technical assistance program in the country.
According to Angola's Finance Ministry the three-year duration agreement is financed by the European Commission and managed by the IMF's Tax Affairs Department.
It foresees the programming of the macro fiscal framework and improvement of the public investment management.
It also encompasses the improvement of public financial management laws, effectiveness of institutions and preparation of a comprehensive and credible policy-based budget.
Identifying, monitoring and managing fiscal risks, improving the coverage and quality of fiscal reporting to help monitor public finances are two other pillars embodied in the project.
The IMF approved earlier on Thursday the third tranche of 247 million U.S. dollars to Angola from the total of 1.48 billion U.S. dollars loan agreement it has made available for the southern African country.
