africa Agriculture Angola Banking Currency Economy Finance

Bank of Angola wants monetary policy focused on agriculture

Angola has to move towards an exchange rate monetary policy focused on agriculture, domestic production and competitiveness, said the governor of the Central Reserve Bank of Angola (BNA), Valter Filipe da Silva, in Luanda.

According to the official, who was speaking at the end of the 7th Banking-Regulation and Banking Supervision Forum, promoted by Jornal  Expansao (local Newspaper) it is underway a creation of guarantee instruments to make the foreign exchange available to the agricultural sector.

He also said that foreign exchange policy should continue to provide foreign exchange to the market, not in a very administrative way, but giving greater availability to the banking system, looking at the business plan and the commercial banks’ credit plan for these currencies to be effectively for agricultural production.

The Bank governor said that priority should be given to the production of corn and soybeans to reduce the import of flour, as well as other aggregates such as animal feed and increase meat production.

Source: Angop

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