Africa-Press – Angola. The governor of the National Bank of Angola (BNA), Manuel Tiago Dias, assured Saturday, in Morocco, that the institution is working to preserve the position of the International Reserves (IR), currently valued at 14 billion dollars (one dollar equivalent to 825.526 kwanzas).
Speaking at the end of the annual joint high-level meetings of the World Bank (WB) and the International Monetary Fund (IMF), in Marrakesh (Morocco), he reaffirmed that the main message is the need for macroeconomic stability.
Manuel Tiago Dias indicated that, in the meetings, the BNA held meetings with external managers, with emphasis on the BM, in a seminar and in debates around cross-border payments, at the level of SADC and the African continent.
Manuel Tiago Dias highlighted the approach to inflation and currency depreciation and their impact on the general level of prices.
According to the person responsible, there are questions regarding the choices made in terms of the exchange rate regime. “We opted for the flexible exchange rate regime, which means that the BNA’s interventions only happen when there is actually a need for it and when changes occur at the market level on a punctual basis and not structurally, like the one we observed in the months of May and July,” he said.
He added that, in any case, with the new exchange rate level, there are conditions to define what action should be taken at market level.
The Angolan delegation, led by the Minister of Finance, Vera Daves, participated from 9 to 14 October in joint high-level annual meetings of the World Bank (WB) and the International Monetary Fund (IMF), in Marrakesh (Morocco).
The Angolan delegation included the Minister of Economy and Planning, Mário Caetano João, and the governor of the National Bank of Angola (BNA), Manuel Dias.
At the meetings, which marked the return to Africa, after the meetings in Kenya in 1973, the IMF and the WB presented a downward review of growth for the continent, according to the Jornal de Angola publication.
The World Bank has already presented its growth estimate for the region, which slows to 2.5% this year, after growth of 4.8% in 2021 and 3.8% last year.
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