"It is not the case," said José de Lima Massano, who was speaking Friday at a press conference after the meeting of the central bank's Monetary Policy Committee.
According to José de Lima Massano, the depreciation of 10 percent from January to the present date of the kwanza is in line with external factors, namely the drop in the price of a barrel of oil, a situation that affects other economies with the characteristics of the Angolan, namely the Brazil and almost all of Latin America.
“If we look at what is happening, for example, with the Brazilian economy, in which the real depreciated above 20 percent in the same period, the rand depreciated above 20 percent in that period, it happened with almost all of America Latina, Chile, Ecuador, Colombia, Mexico, Russia - the ruble fell more than 20 percent - we fell 10 percent ”, he said.
José de Lima Massano said that on December 31, 2019, the main adjustments were made and in January there was still “some pressure”, with a depreciation of 2.7 percent.
"In February we had an appreciation of the kwanza against the dollar, in March we saw a currency depreciation again," he said.
“We did have an adjustment justified by this context, due to an external factor, the sharp drop in the price of oil”, he stressed.
José de Lima Massano said that reforms at this level are essentially carried out, but the situation will continue to be monitored, “with the same principles, ensuring that the country has international reserves to cover responsibilities and needs, that the market finds balance ”, Among other aspects.
