LUANDA, Nov. 24 (Xinhua) -- The International Monetary Fund (IMF) has approved a credit of 1.4 billion U.S. dollars to Angola to help the African country to cope with global economic crisis, Prime Minister Antonio Paulo Kassoma announced here on Tuesday .

    Addressing the third ordinary session of the National Assembly (parliament), convened for the approval of state budget for the year 2010, the prime minister said the new IMF loan marked international recognition of the fairness of the policies of reconstruction, harmonious and sustainable development by the Angolan government.

    The new loan also reflected the IMF was strongly committed to helping Angola to implement a comprehensive reform program aimed at correcting macroeconomic imbalances, he said.

    The reform was aimed at injecting more resources into social sectors and promoting key projects of infrustructural construction to improve the living standard of the 16.5 million population, he said.

    Angola is one of the fastest growing economies in the world and registered double-digit economic growths due to a booming oil industry after its civil war ended in 2002.