Oil-Price Surge Helps Angola Put Plan to Borrow From IMF on Hold
Angola won't seek a loan from the International Monetary Fund for now, as Africa's third-biggest crude producer benefits from rising oil prices.
The country, which depends on oil for more than 90% of its export revenue, will meet most of its financing needs for the year after also carrying out spending cuts, according to three people who asked not to be identified because the information isn't public. There's no immediate need to seek IMF funding, they said.
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