According to the Bloomberg financial information agency, which cites data from the National Bank of Angola, gross reserves fell in the first month of the year from 17.16 billion dollars to 16.79 billion dollars.
At the end of January, the economic research office of Banco de Fomento Angola had said that Angola's net international reserves rose 11.2 percent last year, to 11.8 billion dollars, above what had been agreed with the International Monetary Fund (IMF).
"Net international reserves reached 11.8 billion dollars at the end of 2019, an annual increase of 1.2 billion dollars, representing 11.2 percent, and 2.8 billion dollars above the amount agreed with the International Monetary Fund, which is 9.4 billion dollars," the note sent to customers read.
In the document, analysts added that compared to November reserves fell slightly, by 500 million dollars, representing more than 6.5 months of imports.
In the analysis, the economists also stressed that the loans that banks have difficulties in collecting (bad credit) represented 34.6 per cent of the total in September last year, which shows an increase of 6.9 percentage points over the same period in 2018.
