IMF team in Angola for loan talks, economy diversification on agenda

A team from the International Monetary Fund is visiting Angola to negotiate a loan facility after lower oil prices hammered the finances of Africa's second largest crude exporter, the Ministry of Finance said on Wednesday. The ministry said the IMF team will be in Angola from June 1 to June 14 and would discuss options on how to diversify the economy and reduce the dependence on the oil sector. Angola said in April that it would begin loan negotiations with the IMF on a three-year loan facility.