World Economy

Moody’s Warns Angola

Moody’s Warns AngolaMoody’s Warns Angola

Angola’s failure to agree to a new Extended Fund Facility with the IMF will leave it struggling to “go it alone” in managing numerous economic pressures, according to a note from Moody’s, FT reported. Moody’s has not changed Angola’s credit rating, but warned that the suspension of talks with the IMF is “credit negative” for the country. “By ending the talks for an EFF, Angola will essentially go it alone in managing downside pressures on its balance sheet and external accounts,” Rita Babihuga, assistant vice president at Moody’s, wrote in a note.