This archive report was first published on 1 July 2019.
Angola's government has been negotiating a tax deal with the International Monetary Fund (IMF) to secure a $4.5 billion loan. However, local traders have been opposed to the deal, citing concerns that it would increase their tax burden and harm their businesses.
According to reports, the traders have been lobbying the government to delay the deal, and their efforts have been successful. The government has announced that it will put the deal on hold until further notice.
The IMF loan is part of a broader effort to stabilize Angola's economy, which has been struggling due to a decline in oil prices. The loan is expected to help the country pay off its debts and implement economic reforms.
However, the delay in the tax deal has raised concerns among investors and economists, who fear that it could undermine the country's efforts to attract foreign investment and stabilize its economy.
Angola's government has not commented on the reasons behind the delay, but sources close to the negotiations have suggested that the traders' opposition was a major factor.
