Angolan central bank head promises new forex measures this week - CNBC Africa

Angolan central bank head promises new forex measures this week

Southern Africa

by Reuters 0

Da Silva was little-known in financial circles before his appointment last month, and had been working as a lawyer. Photo: Wikipedia.

Angola's new central bank governor, Valter Filipe da Silva, said on Monday that the bank would this week introduce unspecified measures aimed at the foreign exchange market.

Da Silva's remarks come as Africa's second-biggest oil producer grapples with slumping crude prices, forcing the government into talks with the World Bank and International Monetary Fund about possible financial assistance.

Da Silva told journalists that the bank would this week "release a series of necessary measures to create better macro-economic conditions to improve control of monetary and foreign exchange policies". He did not elaborate.

Da Silva was little-known in financial circles before his appointment last month, and had been working as a lawyer in the vice-president's office. He faces a number of challenges including a slide in the kwanza currency, which has lost more than a third of its value against the dollar since the start of 2015.

 

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