Angola has US$8.4B in international net reserves, which cover around 11 months of imports.
The information was provided by the governor of the National Bank of Angola (BNA), José de Lima Massano, in a statement to the press at the end of the 11th (eleventh) session of the Economic Commission of the Council of Ministers.
According to Mr. Massano, the balance of payments in current account this quarter shows a deficit of around US$1.3B, a reversal from 2018, due to the boosting of economic reforms in the country.
With regard to the price of oil, José Massano noted that since last September there had been a recovery of around 58 percent from the previous quarter, which also made it possible to maintain the level of reserves at a comfortable level.
At Tuesday’s session, led by the President of the Republic, JoãoLourenço, the economic team approved the report on the implementation of the national treasury’s financial programming for the 2nd (second) quarter of the current year.