Africa-Press – Angola. The difference between the exchange rate on the official market and that prevailing on the informal currency market reduced significantly by 10 percent in 2022, said the deputy governor of the National Bank of Angola (BNA), Manuel Dias.
The manager, who was speaking on the sidelines of the business meeting with Angolan businessmen, organized by AIPEX, highlighted the appreciation as preponderant for the improvement of the business environment in the country, above all, for foreign investors who intend to expatriate their dividends, in a timely manner and safely.
Manuel Dias also pointed out that one of the causes of the appreciation of the Kwanza was the introduction, in the foreign exchange market, of a flexible exchange rate regime, which allowed adjusting the value of the national currency to market conditions, now functioning normally, without any restrictions. administrative.
“On balance, during the reference period, the country experienced an appreciation of the exchange rate, due to the reduction in supply, and there was an appreciation of the national currency in the order of 10 percent”, concluded the deputy governor.
As for the Angolan Balance of Payments Current Account, which was in deficit in the period from 2014 to 2017, said the official, it started to have positive balances since 2018 (including in 2020, greatly affected by the impact of Covid-19). 19), 18% against 12% in 2021.
Looking ahead, he said that 2023 is expected to end with a positive current account balance of around 3.2 percent of GDP.
On the other hand, he added that the country’s Net International Reserves (NIR) were around US$14.5 billion in 2022, slightly above compared to the previous period of 2021.
This stability of the RIL, he said, allowed a reserve above 6%, representing slightly, around a coverage above six months of importation of goods and services.
He justified that reserves “have remained very stable”, with the basis of this balance being the change in the method of verifying reserves which, at present, eliminates all liabilities.
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