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Banking and Insurance

New term of office for the governor of the BNA with a favorable opinion in parliament

The governor of the National Bank of Angola (BNA), José de Lima Massano, proposed for a new six-year term by the President of the Republic, was heard on Tuesday by the deputies of the National Assembly who gave a favorable opinion.


According to information released by Parliament, Massano, to date the only known candidate, who has held the position interpolatedly for nine years, promised to "continue to work towards achieving the resilience of the Angolan financial system, as well as for price stability ".

He pointed to the goal of reducing inflation (16.7 percent in October) to values ​​close to 6 percent, and explained that the recent depreciation of the kwanza, against the dollar and the euro, reflects the decline in oil imports, greater than 16 percent, which had a significant impact on the supply of foreign exchange.

The official indicated that the BNA has national reserves estimated at around US$13.5 billion, with an import coverage of around seven months, but warned of the existence of high expenses with the importation of products that could be produced internally, such as palm oil, beans, rice and chicken, among others.

According to information provided by the parliament, deputy António Paulo, vice-president of the Constitutional and Legal Affairs Commission, said that the parliamentarians recognized the "technical competence and suitability" of the candidate José de Lima Massano for the position of Governor of the BNA, and were in favor of this renewal proposal.

According to the parliamentarian, Lima Massano answered for almost an hour the questions of the deputies who voted on a report-opinion that will be sent to the President of the Republic.

"The Constitution makes it clear that the final word rests with the President of the Republic", he pointed out.

The Economics and Finance and Constitutional and Legal Affairs commissions voted on the joint report of the candidate's prior hearing with 24 votes in favour, 14 abstentions and no votes against.

According to the Constitution of the Republic of Angola, the Governor of the National Bank of Angola is appointed by the President of the Republic, after hearing in the National Assembly.

In its article 100.º, the Constitution stipulates that the hearing of the candidate is triggered by request of the President of the Republic and ends with the vote of the report-opinion, in the terms of the law, being the President of the Republic responsible for the final decision in relation to the nomination of the proposed candidate.

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