africa Angola Banking Economy Finance

Challenges in Angolan economy analysed in USA

Approximate reading time: 2 minutes

The new challenges in the Angolan economy, in light of the reforms undertaken by President João Lourenço, were under debate last Friday in Washington, United States of America.

The debate, which happened during a luncheon-conference held on the fringes of the Spring Meetings of the World Bank (WB) and the International Monetary Fund (IMF), was promoted by the USA/Angola Chamber of Commerce (USACC) and the 25th WB Constituency.

Held under the motto “Investing in Angola’s Future”, the debate touched on the Angolan government’s efforts to stabilise its monetary and exchange policies, as well as the adjustment of the banking system to international norms, reads a press note that reached ANGOP on Saturday.

The meeting was attended by the USACC chairman, Maria da Cruz, the  ambassador to the United States, Agostinho Tavares, the Governor of the National Bank of Angola (BNA), José de Lima Massano, the executive director of the 25th WB Constituency, Armando Manuel, and U.S government officials.

The former U.S under-Secretary of the Treasury, Adam Szubin, gave an account of the reasons why the American Administration suspended the correspondence with Angolan banks.

He expressed his optimism about the resumption of such relationship, having considered that the measures being implemented by the new Executive in Angola, specifically through the Reserve Bank (BNA), can contribute to the improvement of financial relations between both countries.

On his turn, the U.S Deputy Assistant Secretary of State for Africa and the Middle-East, Matthew Harrington, highlighted that the United States is committed to strengthening the partnership with Angola in various domains, in view of the encouraging measures that have been adopted by the new Angolan government.

Source: Angop

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