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Thu, 14 Dec 2017 10:54 - Updated Thu, 14 Dec 2017 10:54

BNA reveals existence of USD 30 billion abroad

Luanda - At least US $ 30bn of Angola's assets are deposited abroad in correspondent commercial banks, said on Wednesday in Luanda the governor of the National Reserve Bank of Angola (BNA), José de Lima Massano.

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USD Dallars.

Photo: Angop

Half of this money ($ 15 billion), he explained, are deposits of commercial banks and Angolan financial institutions with their correspondents abroad, based on balance of payment data compiled by the International Settlements Bank (BIS).

Another half, according to the governor, who spoke on the fringes of the closing of the seminar on anti-corruption, nepotism and money laundering promoted by the MPLA, corresponds to the deposits of non-financial entities such as the National Treasury, Angola's Sovereign Fund, public companies and private individuals.

Given this scenario, he said, the BNA will step up vigilance and effectively enforce legislation that avoids the capital flight and money laundering to overseas.

At the closing ceremony of the seminar, the Head of State and MPLA Vice-President, João Lourenço, asked Angolans abroad to repatriate this capital from the beginning of next year in order to invest in the country, under pain of seeing the money confiscated for the Angolan state.

Tags Banco   Economy  

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