IMF board backs $1.4 billion loan for Angola

WASHINGTON | Mon Nov 23, 2009 5:19pm EST

WASHINGTON Nov 23 (Reuters) - The International Monetary Fund said on Monday its board approved a $1.4 billion standby loan arrangement for Angola to help it cope with the effects of the global recession.

While the program's immediate goal is to mitigate trade-related shocks, it also includes a reform agenda aimed at medium-term structural issues to foster growth outside of the Southern African country's oil sector, the IMF said in a statement. ((Reporting by Emily Kaiser, Editing by Gary Crosse)) ((emily.kaiser@thomsonreuters.com; +1-202-310-5444; Reuters Messaging: emily.kaiser.reuters.com@reuters.net))
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