7 December 2012

Angola: Economic Commission Hails Measures Implemented By Reserve Bank

Luanda — The Economic Commission of the Angolan Cabinet Council last Thursday in Luanda deemed important the measures being implemented by the National Reserve Bank (BNA), in applying the new operational framework of the Monetary Policy, aiming at preserving the value of the national currency.

This decision was taken during the 5th Ordinary Session of the Economic Commission of the Cabinet Council, which was chaired by the head of the Executive, President José Eduardo dos Santos.

According to a press note, the meeting approved the need to move from the current model of outlining the inflation objectives to a model of outlining inflation targets.

On the other hand, the Economic Commission decided that there is a need to review the regulation of the Law on the Exchange Rate and the regulation on the Private Investment Law, aimed to improve the measures to reduce the dollarization of the national economy.

The gathering also decided that measures should be taken for the simplification of the goods clearing process in Luanda Port, with a view to avoiding the constraints often verified during the festive season.

Several other important documents were analysed by the members of the Economic Commission.

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