Sat, 28 Mar 2020 18:06 - Updated Sat, 28 Mar 2020 18:06
BNA with reserves to import goods for eight months
Luanda - Angola's National Bank (BNA) stock of Gross National Reserves stood at USD 16.39 billion in February this year, equivalent to an eight-month degree of coverage of imports of goods and services.
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
National Bank (BNA) governor, José de Lima Massano
Photo: Clemente Dos Santos
The data were released by BNA governor, José de Lima Massano during a press conference granted Friday at the end of a meeting of the Monetary Policy Committee to address, various issues, including COVID-19 on the national economy.
José de Lima Massano said the country is at a level that “still ensures some comfort”.
He stressed that a degree of reserve coverage for imports of goods and services for eight months is above the recommendations of the International Monetary Fund (IMF) and the conventions that exist at the level of the region.
The BNA governor predicted that should the oil price remains at the current level, there may be a greater aggression on international reserves, but there is also a set of measures that go towards protecting them, to ensure the external solvency of the economy.
José de Lima Massano said that the set of reforms carried out allows us to face this moment with some serenity, but with the oil price below 30 dollars, there are added challenges to any exercise of macro economic management and improving the living conditions of citizens .
From the point of view of the stability of the financial system, the official explained that the exercise carried out at the end of last year, with the assessment of the quality of assets, indicates that the vast majority of banks are strong enough to continue to operate and support the economy
- 27/03/2020 16:53:45
Luanda - The World Bank has made available USD 15 million to support the Angolan Government's efforts to combat the new coronavirus (COVID-19), said on Thursday, the World Bank (WB) resident representative, Oliver Lambert.
- 27/03/2020 16:53:40
Luanda - The Ministry of Finance is authorized to begin the process of reviewing the General State Budget (OGE) 2020, according to the final Communiqué, issued in Friday's session of the Council of Ministers.
- 27/03/2020 16:53:35
Luanda - The Economic Commission of the Council of Ministers approved Thursday, in Luanda, the Program for Strengthening the Social Protection, within the framework of the measures underway in the country to complement the prevention and combat actions against the Coronavirus (COVID-19).