Africa-Press – Angola. The governor of the National Bank of Angola, José de Lima Massano, met this Monday with a delegation from Citigroup (formerly Citibank), a US financial institution, who learned about the national financial system.
The Citigroup delegation was represented at this meeting by its Executive President for Europe, Middle East and Africa, David Livingstone, and by the Executive President for Emerging Markets, Ebru Pakcan.
During the meeting, according to a publication by the Central Bank, Governor José de Lima Massano addressed the alteration of the structural legislative framework of the financial system.
He said that the current legislative framework allowed the BNA to become an independent and autonomous institution in defining the course of monetary policy, in addition to becoming the macroprudential and bank resolution authority in Angola.
José Massano also shared with senior Citi officials information on the recent evolution of the Angolan economy, more specifically the behavior of inflation and the factors that led to its reduction during 2022.
The reforms carried out in the foreign exchange market and the resulting stability aroused the interest of the Citi delegation.
The meeting also served to inform the Citi delegation about the reforms carried out in the financial system, from the phased process of convergence of the Angolan regulatory and supervisory framework to the standards established by the European Central Bank.
The standards are linked to the adoption of the principles of financial market infrastructure, as agreed by the Bank for International Settlements (BIS) and the recommendations of the International Financial Action Task Force (FATF), with regard to combating money laundering and financing of terrorism and proliferation of weapons of mass destruction.
The Citi delegation is in Angola to hold meetings with institutions responsible for conducting macroeconomic policy, in addition to other entities linked to the private sector, with the aim of witnessing the most recent developments in the Angolan economy.
The deputy governors, Manuel Tiago Dias and Pedro Castro e Silva also participated in the meeting.
Citigroup Inc. is one of the largest companies in the financial services sector in the world, with 223.4 thousand employees (data from 2021).
Headquartered in New York City, the group’s revenue, in 2022; reached 75.3 billion dollars.
They are subsidiary companies of Citigroup, Citi India, Grupo Financiero Banamex, AeroMéxico, Citibank Hong Kong, Citibank Australia, Citibank Russia, among others.
The formation of the group was announced on April 7, 1998, as a result of the merger of Citicorp and Travelers Group.
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