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Bank of Angola wants monetary policy focused on agriculture

Approximate reading time: 1 minute

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


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