The International Monetary Fund has lowered Angola’s 2025 growth forecast to 2.1 per cent, from 2.4 per cent previously, as weaker oil exports weigh on the economy.

In its latest assessment released Friday, the IMF cautioned that Angola faces mounting debt-servicing risks and advised the government to scale back borrowing, cut spending, and allow more flexibility in the exchange rate.

The downgrade follows a May mission to Luanda, after which the IMF also revised down the 2024 outlook to 3 per cent from 3.4 per cent.

Angola’s economic performance has been undermined by falling crude production, volatile oil prices, and widening sovereign spreads in the first half of the year.

The Fund added that U.S. trade tariffs have intensified pressures, highlighting the exposure of oil-dependent African economies to external shocks.