Angola: IMF finds most of Angola's missing $32 bln

The IMF said on Tuesday a $32 billion accounting discrepancy in Angola's state funds was linked to 'quasi-fiscal operations' by state oil firm Sonangol done on the government's behalf, but not recorded in official budget accounts. 'Preliminary data indicate that quasi-fiscal operations undertaken by the state oil company on behalf of the government, financed out of oil revenues but not recorded in the budgetary accounts, can explain a large part of the discrepancy,' the IMF said in a statement.