africa Angola Banking Economy Finance Government Legislation

Angolan central bank head promises new forex measures this week

 

Angola’s new central bank governor, Valter Filipe da Silva, said on Monday that the bank would this week introduce unspecified measures aimed at the foreign exchange market.
Da Silva’s remarks come as Africa’s second-biggest oil producer grapples with slumping crude prices, forcing the government into talks with the World Bank and International Monetary Fund about possible financial assistance.
Da Silva told journalists that the bank would this week “release a series of necessary measures to create better macro-economic conditions to improve control of monetary and foreign exchange policies”. He did not elaborate.
Da Silva was little-known in financial circles before his appointment last month, and had been working as a lawyer in the vice-president’s office. He faces a number of challenges including a slide in the kwanza currency, which has lost more than a third of its value against the dollar since the start of 2015.

 

Source: Reuters

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s