{"id":22137,"date":"2022-12-08T07:53:57","date_gmt":"2022-12-08T07:53:57","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/all-news\/head-of-state-highlights-bnas-role-in-stabilizing-the-angolan"},"modified":"2022-12-08T07:53:57","modified_gmt":"2022-12-08T07:53:57","slug":"head-of-state-highlights-bnas-role-in-stabilizing-the-angolan","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/head-of-state-highlights-bnas-role-in-stabilizing-the-angolan","title":{"rendered":"Head of State highlights BNA’s role in stabilizing the Angolan"},"content":{"rendered":"

Africa-Press – Angola. <\/strong><\/span>The President of the Republic, Joa\u0303o Lourenc\u0327o, recognized, Tuesday, in Luanda, the role of the National Bank of Angola (BNA) in stabilizing the country’s economy, stressing that in recent years the financial institution has fulfilled its role and obligations conferred by the Constitution.<\/b><\/p>\n

“Judging by what we have been observing in recent years, the Central Bank has fulfilled this role well”, said the Head of State, at the swearing-in ceremony of the governor of the National Bank of Angola, Jose\u0301 de Lima Massano, who was reappointed for another five-year term at the head of the BNA.<\/p>\n

Present at the act, which took place in the protocol room of the Presidential Palace, in Cidade Alta, were the Vice-President of the Republic, Esperanc\u0327a da Costa, the Ministers of State, members of the Executive, and other invited personalities.<\/p>\n

During the intervention, the Head of State referred that the reappointment of the governor of the BNA resulted from the fact that the formalities of the Law had been fulfilled, namely, the parliamentary hearing, which passed with the approval. He recalled, however, that the performance of the economy depends a lot on how the Central Bank fulfills the obligations conferred by the Law.<\/p>\n

“Having completed the formalities required by law, the parliamentary hearing, which passed with approval, we decided to reappoint him for another term, in the certainty that, as much as in the recent past, from now on he will continue with his work, commitment and know for the success of the economic policies that the Executive has been developing”, declared the President of the Republic, who at the end of the ceremony raised his glass of champagne, directed his eyes to the sworn in and said: “I just have to wish you a lot success, the country counts on you\u201d.<\/p>\n

Governor’s expectations<\/b><\/p>\n

Speaking to the press at the end of the ceremony, the governor of the BNA said that this month (December) holds a framework of greater stability for the kwanza, after some fluctuations in the national currency have been observed in recent months.<\/p>\n

“What we have in this month of December is a framework of stability. The national currency is stable again”, indicated Jose\u0301 de Lima Massano, noting that there are, once again, episodes of appreciation of the kwanza, which since the beginning of this year until present date, against the US dollar it has appreciated by about 10 percent.<\/p>\n

The BNA governor considered, therefore, “relevant” the behavior of the Angolan currency, throughout the current economic year, against the US dollar and the euro, but admitted that Angola is not immune to the threats that the world economy has been suffering due to , above all, to the war in Ukraine, as well as to the external context of “great pressure” in terms of prices.<\/p>\n

Jose\u0301 de Lima Massano indicated that in the third quarter of this year the country registered a “quite sharp drop” in exports, in the order of around 16.5 percent, which affected the economy’s ability to offer foreign exchange resources, with an impact, above all, last October and November.<\/p>\n

He underlined that the current mechanism that the country has to determine the exchange rate works in better conditions, allowing the proper functioning of the market. “Companies did not need to carry out transactions outside the financial circuit, nor did citizens have to resort to the informal market to gain access to foreign exchange. The market worked well because the price ended up playing that role”, he said.<\/p>\n

He referred that the conflicts, particularly in Eastern Europe, affected the logistic chains and made imported products more expensive. He recalled the fact that Angola still has a strong dependence on various goods from abroad.<\/p>\n

“We have been working to make our economy more resilient”, said the official, adding that the drop in inflation seen in recent months reveals the effectiveness of the work that has been carried out by the Angolan authorities, including the BNA, in favor of strengthening the economy and solving the main concerns of citizens.<\/p>\n

He recognized that the country still has a way to go, in terms of food security and price stability. “We continue to do our work for the production of essential goods with quality and with that we help in the stability of prices and improve, in a global way, the business environment of the country”, she declared.<\/p>\n

International financial reserves<\/b><\/p>\n

The BNA governor revealed that the country’s international financial reserves are around US$13.5 billion, covering around 7 months of imports. He stressed that the numbers do not vary much, all because the exercise has been aimed at preserving them.<\/p>\n

“In the past, we had greater volatility, because the reserves were used for regular intervention in the market”, said Jose\u0301 de Lima Massano, noting that they (international financial reserves) are currently maintained, above all, with a sense of “protecting external solvency \u201d, and the ability to honor commitments abroad. He underlined that the country has reserves for any eventuality<\/p>\n

For More News And Analysis About Angola<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Angola. The President of the Republic, Joa\u0303o Lourenc\u0327o, recognized, Tuesday, in Luanda, the role of the National Bank of Angola (BNA) in stabilizing the country’s economy, stressing that in recent years the financial institution has fulfilled its role and obligations conferred by the Constitution. “Judging by what we have been observing in recent […]<\/p>\n","protected":false},"author":84,"featured_media":22136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,244],"tags":[233,337,329],"class_list":["post-22137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-to-homepage","tag-africa-press","tag-africa-press-angola","tag-angola"],"yoast_head":"\nHead of State highlights BNA's role in stabilizing the Angolan - Angola<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/angola\/all-news\/head-of-state-highlights-bnas-role-in-stabilizing-the-angolan\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Head of State highlights BNA's role in stabilizing the Angolan\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Angola. The President of the Republic, Joa\u0303o Lourenc\u0327o, recognized, Tuesday, in Luanda, the role of the National Bank of Angola (BNA) in stabilizing the country’s economy, stressing that in recent years the financial institution has fulfilled its role and obligations conferred by the Constitution. “Judging by what we have been observing in recent […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/angola\/all-news\/head-of-state-highlights-bnas-role-in-stabilizing-the-angolan\" \/>\n<meta property=\"og:site_name\" content=\"Angola\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-08T07:53:57+00:00\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/head-of-state-highlights-bnas-role-in-stabilizing-the-angolan#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/head-of-state-highlights-bnas-role-in-stabilizing-the-angolan\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Head of State highlights BNA’s role in stabilizing the Angolan\",\"datePublished\":\"2022-12-08T07:53:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/head-of-state-highlights-bnas-role-in-stabilizing-the-angolan\"},\"wordCount\":851,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/head-of-state-highlights-bnas-role-in-stabilizing-the-angolan#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2022\/12\/postQueueImg_1670480521.90.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Angola\",\"Angola\"],\"articleSection\":[\"all news\",\"files\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/angola\/all-news\/head-of-state-highlights-bnas-role-in-stabilizing-the-angolan#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/head-of-state-highlights-bnas-role-in-stabilizing-the-angolan\",\"url\":\"https:\/\/www.africa-press.net\/angola\/all-news\/head-of-state-highlights-bnas-role-in-stabilizing-the-angolan\",\"name\":\"Head of State highlights BNA's role in stabilizing the Angolan - 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