26 December 2012

Angola: Cabinet Council Economic Commission to Meet On Thursday

Luanda — The Economic Commission of the Cabinet Council will hold on Thursday 27 December in Luanda's Presidential Palace its first extraordinary session, says a press note from that state body that reached Angop on Wednesday.

The last ordinary meeting of the referred commission, held on 20 December, analysed the evolution of the monetary, exchange and external account markets referring to the week of 3-14 November 2012, with a monthly inflation for November estimated at 0.93%.

It was analysed the report on the financial stability in the first half of this year, and concluded that the system has been maintaining the levels of solvency well above the regulatory limit, capable of withstanding moderate shocks resulting from the accumulation of reserves and of results, yielding a solvency ratio of 17.6%, above the legal minimum of 10,0%.

The source estimates that the banking system deposit portfolio showed for the first time a predominance in national currency and term deposits, as well as an increase in credits in national currency.

According to the note, the new operational framework of the country's monetary policy has influenced the banks to apply their surplus of liquidity in the Reserve BanK (BNA), thus enabling the slackening of the prices index and reduction of the interest rates of the commercial banks.

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