Ver Angola


International liquid reserves fell by 3 percent

The governor of the National Bank of Angola (BNA) said on Friday that the drop of more than 3 percent in net international reserves is still "at a comfort level" and covers eight months of imports of goods and services.


"This is a perfectly acceptable variation. We may have, maintaining an oil price picture at the current level, below 30 per cent, greater pressure on international reserves", said José de Lima Massano, after a meeting of the BNA Monetary Policy Committee.

According to the governor of the Angolan central bank, the 'stock' of gross international reserves stood at 16.39 billion dollars in February, against 16.84 billion dollars last January, "equivalent to a degree of coverage of imports of goods and services of 8.34 months".

"Net international reserves stood at 10.89 billion kwanzas, which represented a decrease of 3.92 percent over January," he said.

According to the governor of the BNA, the level of fall in international reserves "is above the recommendations of the International Monetary Fund (IMF) and above the conventions of the Southern African Development Community (SADC)".

The head of the Angolan central bank stressed that the exercise carried out by the authorities is to protect reserves and ensure the external solvency of the country's economy.

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