Angola Currency Economy Finance Forex Inflation

Angola net international reserves increase in March

The stock of gross international reserves stood at US$16.4B in March of 2020, against US$16.3B recorded in February, equivalent to a degree of coverage of imports of goods and services of 8,34 months.

According to the document, the same trend was also observed last April, with the stock of gross international reserves standing at US$16.4B.

In March, the National Consumer Price Index (IPCN) released by the National Statistics Institute (INE) showed a monthly variation of 1.85%, above the 1.72% registered in the previous month, bringing the accumulated inflation to 5.73% and the year-on-year rate to 19.62%, a level above that observed in the same period of 2019 (17.56%).

Food and non-alcoholic beverages continue to be the main factor to pressure prices on the economy with 61.74 percent.

Given these economic indicators, the Monetary Policy Committee of the National Bank of Angola decided in this ordinary session to maintain the basic interest rate at 15.5% and the permanent liquidity absorption facility with overnight maturity at 0%.

Source: Angop

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