Angola: Finance Makes More Than a Billion Dollars Available On the Foreign Exchange Market

20 July 2024
Angola Press Agency (Luanda)

Luanda — The Ministry of Finance has made available, since last January to date, a total of one billion 419 million 829 thousand and 603 US dollars, which were sold to the 22 banks operating in the Angolan market.

In a statement sent to ANGOP today, this ministerial department clarifies that, despite financial difficulties, the Angolan Government has made available currency on the foreign exchange market.

It also adds that the 22 banks present in the market had access to the sales made, with the focus of operations falling on supporting agricultural production, as part of the measures to stimulate the economy promoted by the Executive's economic agenda, taking into account, as much as possible, to other market needs.

The financial institutions that benefited from these currencies were BNA, BFA, BAI, BIC, BCI, BPC, BMA, BCGA, BCA, BNI, Standard Bank of Angola, Banco de Crédito do Sul, Banco Keve, Banco de Investimento Rural, Banco Valor, Banco Yetu, Finibanco Angola, Banco Sol, Standard Chartered Angola, Bank Of China Limited Luanda Branch, Banco Comercial do Huambo and Banco de Desenvolvimento de Angola.

The document states that information regarding sales made by the National Treasury will be published quarterly on the Ministry of Finance portal.

According to the statement, this clarification follows an editorial published last Friday in one of the country's weeklies, which calls into question free competition in the foreign exchange market, by referring to the existence of supposed protection from the National Treasury certain banks in accessing foreign exchange.

According to the Ministry of Finance, these considerations are without any basis. In other words, the information conveyed by the aforementioned weekly "does not correspond to the truth".

It reinforces that this department recognizes and values the good work of the national press, aware that journalism must always be guided by the truth, using credible sources of information.

Therefore, the Ministry of Finance expresses, once again, its total willingness to collaborate and provide reliable information and reiterates the guarantee of its total engagement in the transparent and responsible management of public resources. QCB/DOJ

Read the original article on ANGOP.

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