Washington – The Angolan delegation for the Annual Meetings of the International Monetary Fund (IMF) and the World Bank (Bretton Woods institutions) arrived on Sunday, in Washington DC, USA, for the event that begins Monday (21).
The delegation is headed by the minister of Planning and representative of Angola at the World Bank, Hugo Guilherme, and includes the minister of Finance, Vera Daves de Sousa, the Angola Central Bank Governor and alternate governor at the IMF, Tiago Dias, as well as the Chair of the Angola Sovereign Fund, Armando Manuel.
The mission also includes representatives from national banks, businesspeople, experts, among other individuals, who during six days will share experiences and reinforce investment partnerships with international operators.
In parallel with strengthening cooperation between global players, the event serves as an opportunity for Angola to showcase the opportunities the country has for potential investors and sign cooperation agreements with different partners.
The event takes place two consecutive years in Washington and one year in one of the IMF and WBG (World Bank Group) member countries, having been held in 2023 from the 9th to the 15th of October, in the Kingdom of Morocco.
This year, the meeting, which ends on the 26th and brings together international businesspeople, will take place at a time when there are only 15 days left until the general elections in the United States of America, scheduled for the 5th of November.
Also known as meetings of the Bretton Woods institutions, they also aim to promote economic cooperation and international trade, employment and exchange rate stability, by making financial resources available to member countries, as well as helping to balance balances of payments.
As a result, Angola has cemented its ties with the IMF and the World Bank Group, in recent years, through specific programs aimed at improving the management and consolidation of national accounts, improving investment mechanisms and promoting Angola's economic and social growth.
One of the most recent examples is the IMF's Expanded Financing Program, implemented from 2018 to 2021, in the country, which allowed a loan of around US$4.4 billion to be allocated, in addition to technical assistance in applying the financing granted.
Alongside the IMF, the World Bank Group also supports the efforts of the Government of Angola, with emphasis on adding capital into projects that reduce poverty and promote economic growth.
Created in 1944, together with the IMF, the World Bank's initial purpose was to assist economies devastated by WWII, and is currently focused on financing projects and technical assistance in policies for the development of emerging countries, aiming to eradicate extreme poverty and promote shared prosperity.
The World Bank Group is made up mainly of the International Bank for Reconstruction and Development and the International Development Association.
In addition to these two, the WBG also comprises three other organizations: International Finance Corporation, Multilateral Investment Guarantee Agency and International Center for the Resolution of Investment Disputes.
Currently, the Bretton Woods institutions have 189 member countries, including Angola, which has also been a member since 1989.
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