Angola’s international reserves dropped from USD 18.23 billion in 2017 to USD 14.66 billion by the end of 2022, a reduction of around USD 3.57 billion.
Until April 21, 2023, international reserves stood at US$14.4 billion, which corresponds to more than six months of imports of goods and services.
Within SADC macroeconomic criteria, Angola is in the limit of six months of import, but three months more in relation to the international Monetary Fund (IMF) Convention.
Presenting the evolution of the external indicators Wednesday, the Governor of the Angola Central Bank (BNA), José de Lima Massano said the stock has been decreasing since 2017, but with slight increases oscillations.
In 2018, for example, net international reserves stood at USD 16.17 billion, while in 2019 it rose by USD 17.21 billion, with a slight increase, the BNA governor told the 1st Edition of the Angola Economic Outlook 2023,
A year later, it dropped again to levels of US$14.88 billion, a reduction of US$2.33 billion compared to 2017.
In 2021, the stock recorded a slight increase, settling at USD 15.51 billion, having the same values reduced in the following year, in 2022, to USD 14.66 billion.
Recently, we had, in international reserves, a set of assets that did not belong to the Angola Central Bank and many others that were already committed, he said.
With the current levels of international reserves, the BNA’s concern is focused on maintaining the six months of imports of goods and services and managing prices in the national economy.
Source: Angola Press News Agency (APNA)