Mon. Jun 10th, 2024

Angola has denied that it was abolishing fuel subsidies as a result of pressure from the International Monetary Fund (IMF).

Finance Minister Vera Daves said on Thursday that the withdrawal of fuel subsidies came as a result of a sovereign decision by the Angolan government.

It follows government’s decision to raise the price of petrol from 160 kwanza ($0.27) to 300 kwanza ($0.51) per litre, which came into effect on Thursday.

The measure does not affect public service vehicles and motorcycles – whose operators will get a non-transferable pre-paid card that they will use to buy fuel.

By Joy

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