Fri, 15 Mar 2019 15:11 - Updated Fri, 15 Mar 2019 15:09
Angola predicts relative stability of international reserves in 2019
Luanda - The National Reserve Bank (BNA) said Thursday the country’s Net International Reserves stood at USD 10. 6 billion until December 2018 and admitted that the country can record a relative stability this year.
Send by email
To share this news by email, fill out the information below and click Send
To report errors in the texts of articles published, fill out the information below and click Send
1 / 1
Photo: Francisco Miudo
Deputy governor of BNA, Manuel Tiago Dias
Photo: Francisco Miudo
Despite a slight drop in 2018, there was an increase compared to the last three years - 2015, 2016 and 2017, said BNA deputy governor, Manuel Dias.
Manuel Dias was speaking to the press on the fringes of the presentation ceremony of Angola’s present economic evolution to the diplomatic body accredited in the country.
BNA deputy governor, Manuel Tiago Dias, foresees a recovery of the Net International Reserves in view of current government efforts to regulate pending operations from 2014 to 2017.
He said the effort is also evident in the monetary policies to enable better exchange rate between the Angolan currency (Kwanza) in relation to the US Dollar and Euro.
He also spoke of the quote due to the standardisation process of foreign exchange market launched in 2018, which allowed greater flexibility of the exchange rate.
According to the BNA official, the major effort to stabilise the foreign exchange market occurred in 2018.
This, he said, takes into account the ratio of the main macroeconomic indicators, a relative stability of the Kwanza in relation to the main currencies US Dollars and EURO can now be observed.
- 14/03/2019 18:02:08
Luanda - Angolan Minister of Economy and Planning, Pedro Luís da Fonseca, said Thursday that the Human Development Index (HDI) situation in Angola inspires care and that its improvement is through the empowerment of women, gender, nutrition and teaching.
- 12/03/2019 19:35:14
Luanda - Domestic producers that comply with the regulations imposed by the Southern African Development Community (SADC) may benefit from reduced or non-tariff rates on imports of goods to other countries in the region as soon as Angola enters the Free Trade Zone.
- 12/03/2019 16:53:31
Luanda, 12 March (ANGOP) - The World Bank's Vice-President for the African Region, Hafez Ghanem, visits Angola from 13 to 15 this month to learn about the country's current momentum driven by government reforms.