Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

At the meeting of the Monetary Policy Committee (MPC) held on the 16th and 17th of last week, in Luanda, the BNA decided to increase the basic interest rate by 50 basis points (bp) to 19.50%, increase the Marginal Lending Facility rate to 20.5% (+100bp) and increase the coefficient of mandatory reserves, in local currency, 21%, +1 percentage point (pp);
According to ANPG data, total oil production in April was 32 million barrels, which amounts to around 1.07 million barrels per day (mbd), an increase of 2% compared to the same period last year;
The monetary base in local currency contracted 1.2% in April compared to the previous month. In relation to the same period last year, the operational variable of monetary policy grew 50.1%.

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BFA

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