Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

At the monetary policy committee meeting held last Tuesday, the BNA decided to reduce the local currency mandatory reserves ratio from 22% to 19%.
Gross International Reserves closed in May at USD 15.1 billion (bn), growing USD 1.7bn since the beginning of the year.
Last Thursday, OPEC+ members decided to strengthen the plan to gradually increase oil production by 648,000 barrels per day in July-August.
In the foreign exchange market, this week recorded again a depreciation of 1.62% of The Kwanza against the Dollar and 1.60% against the Euro, having closed the week at USD/AOA 426.2 and EUR/AOA 457.9.
Last Friday, the Angolan State raised USD 91 million by selling 10% of the capital it held at Banco Angolano de Investimento (BAI), through Sonangol and Endiama.
The President of the Republic announced the date of the general elections for August 24, 2022.

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BFA

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