Africa-Press – Angola. The province of Bengo hosts, on the 14th and 15th of this month, the 116th ordinary meeting of the Monetary Policy Committee (CPM) of the National Bank of Angola (BNA).
To this end, the governor of the BNA, Manuel António Tiago Dias, has been in Caxito since Wednesday, for a three-day visit, as part of the meeting.
The work agenda includes a visit to Fazendas Kabanguela and Nunes Carlos, two enterprises that benefited from financing within the framework of BNA Notice number 10/2022 regarding the modalities of Granting Credit to the real sector of the economy.
Speaking to the press, the governor highlighted that the Angolan financial system presents indicators of solidity, noting that the BNA has been working to make the banking institutions operating in the country increasingly solid and capable of playing their role, mainly in relation to concerns financial intermediation.
For this reason, he said, the BNA has been approving regulations that guide financial institutions to play a more active role with regard to financial intermediation.
At its last meeting, held on the 18th and 19th of January 2024, in Luanda, the CPM decided, namely, to maintain the BNA Rate at 18%, the interest rate on the Permanent Liquidity Lending Facility at 18.5%, of the Permanent Liquidity Absorption Facility interest rate by 17.5% and increase the coefficient of mandatory reserves in national currency to 20%.
This last measure aims to adapt the level of liquidity to economic activity and mitigate inflationary pressures.
The Monetary Policy Committee of the National Bank of Angola is the body responsible for formulating monetary and exchange rate policy in the country.
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