Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

• The Government enacted last Tuesday the extinction of the state owned mineral resources firm (Ferrangol) and the creation of a National Agency for Mineral Resources;

• According to BNA data, USD 500 million in foreign currency was sold to commercial banks in March, USD 35 million more than in February;

• Also last week, the central bank established a regime of "simplified" bank accounts, aimed at people who previously did not meet all conditions to open a bank account;

• The BNA announced that it will anticipate its Monetary Policy Committee to May 7 (the meeting was to take place on May 27);

• According to Reuters news agency, Angola revised down its exports scheduled for May, from 45 to 41 cargoes, which corresponds to a decrease of 1.39 million barrels per day (mbd), to 1.27mbd.

Best regards,
BFA

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