Africa-Press – Angola. The deputy director of the Africa Training Institute, Carlos Resende, said this Tuesday, in Luanda, that Angola will have greater capacity to reverse the permanent trend of rising prices, with the implementation of the “Inflation Targets Regime” by the National Bank. of Angola (BNA), among its monetary policy instruments.
The economist made these arguments at a seminar promoted by the Ministry of Finance, on the Challenges of Operationalization of Monetary Policy, during which the institution’s senior staff and journalists absorbed solid knowledge about the evolution of the markets in the face of inflationary pressures and the economic cycles inherent to various exogenous factors.
Carlos Resende informed that the operationalization of monetary policy in periods of crisis is based on the scope it can have, taking into account that the current monetary economy has, among its premises, the principle that monetary policy does not affect the structure of the economy, since , structural issues, in most cases, overlap to reverse low growth situations.
He indicated that “Monetary Policy certainly has a very strong effect on inflation, which does not happen on the structural growth of economies”. has the power to trigger periods of accelerated growth or create wealth”.
By indicating that this “is not a particular case for Angola, but a reality for all economies in the world”, Carlos Resende understands that Angola is following the expected and most correct path, with the implementation of necessary reforms, “because, it started by changing the exchange rate regime to flexible, it then implemented the operational independence of the BNA as a central bank and is in the process of implementing the Inflation Targeting Regime”.
For the economist, this is the natural path for a country that wants to follow the successes of other states that have implemented this regime. He noted that experiences demonstrate that the “Inflation Targeting Regime” is important, in anchoring inflationary expectations and helping to bring down inflation, as the regime is credibly implemented.
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