** People rescuing an injured passenger from inside a passenger bus hit by a truck on Dhaka-Mawa Expressway in Shologhar area of Shreenagar upazila in Munshiganj on Thursday. ** Motorcycles allowed on Padma Bridge after 10 months ** Commuters charge extra fare, passengers disappointed ** 78 people killed in Yemen stampede ** Moon sighting committee meets today to ascertain Eid day ** 9 killed in road accidents in 3 districts ** US announces new $325 m military aid package for Ukraine ** Eid-ul-Fitr in Saudi Arabia today ** Eid exodus begins ** LPG price cut illusive ** 15 hurt as bus overturns in capital ** New interbank cheque clearing timings set for Eid holidays ** Four women hit by a train die in Tangail ** 12.28 lakh SIM users left Dhaka on Tuesday ** Sylhet engineer threatened over power outage ** People rush to village homes to spend Eid holidays with their near and dear ones. This photo was taken from Sadarghat Launch Terminal on Tuesday. NN photo ** Surge in cases of dehydration, diarrhoea amid summer heat wave ** Padma Bridge construction cost increases by Tk 2,412cr ** PM gives Tk 90m to Bangabazar fire victims ** Textile workers block highway demanding wage, Eid bonus ** Attack on PM's motorcade Ex-BNP MP, 3 others get life term ** Load-shedding increases for demand of electricity during heat wave ** Motorbikes to be allowed on Padma bridge from Thursday ** 5-day Eid vacation begins from today ** Take Nangalkot train accident as a warning about negligence of govt functionaries **

IMF approves $487.5m aid to Angola

13 January 2021 AFP, Washington

The International Monetary Fund's executive board announced Monday it had approved the disbursement of $487.5 million to Angola, which is suffering from low oil prices due to the coronavirus pandemic.
The financial aid is part of a three-year agreement for about $3.7 billion (the value at the time) that was approved on December 7, 2018 under the IMF's Extended Fund Facility (EFF).
The EFF provides for longer IMF support for a program, as well as longer repayment terms for loans.
Monday's disbursement brings the IMF to a total of nearly $3 billion granted in aid to the southwestern African country, which has significant oil and mineral wealth, but a large part of its population lives in poverty.
The three-year plan "aims to restore external and fiscal sustainability, improve governance, and diversify the economy to promote sustainable, private sector-led economic growth," the IMF said in a statement.
The Washington-based lender noted that the economic shock brought on by the coronavirus pandemic "continues to negatively impact Angola's economy and population.
"Oil production and prices remain weak, and the health and social impacts of the pandemic continue to be felt," the group said.
After a fourth review of Angola's economy under the three-year program, the IMF said that despite this difficult environment, "the authorities… remain resolutely committed to the program.

"The authorities achieved a prudent fiscal adjustment in 2020 that included non-oil revenue gains and restraint in non-essential expenditure, while preserving essential spending on health and social safety nets," the IMF concluded in approving the disbursement.

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