International net reserves maintain a balance of US$13.6 billion, covering just over seven months of imports, the governor of the National Bank of Angola (BNA) José de Lima Massano said last week in Luanda.
Speaking to journalists, on the sidelines of the launch of the book by jurist Carlos Feijó, entitled “Central Banking and Public Finances”, the governor underlined that the International Net Reserves “have remained very stable”.
According to the governor, the stability is due to a methodological change in the calculation of international reserves, which currently exclude all liabilities.
He explained that there is no longer a treasury deposits in international reserves that “are kept with the BNA, which today are resources available to the Central Bank to protect our currency”.
On the other hand, José de Lima Massano says that, as regards the credit granted under the BNA Notice/10, there are just over US$1.2 billion in foreign currency, “what was managed to mobilise support, via Notice 10, and we have commercial banks actively participating”.
According to the governor, the balance for the first 11 months of the year is positive, and with the new law, the emphasis was placed on inflation.
“Angola has been registering a reduction in the inflation rate, that should be below 18%, which “is positive and we will, probably, maintain these courses and more quickly reach the desired single digit”, he mentioned.