Economic stability good news for opening Luanda stock exchange, minister says

2 March 2006

Luanda, Angola, 02 March – Angola’s deputy minister to the prime minister said that economic stability is an “essential requirement” for the existence of a credible financial system, with the opening of the Luanda stock exchange in mind.

For deputy minister Aguinaldo Jaime, speaking Tuesday at the opening of the capital Markets Forum, “that stability is the essential requirement for the existence of a credible Angolan financial market.”

Jaime said that “the beginning of financial mediation is based on the continuity of economic agents and families saving for future use, “adding that “those savings are captured by financial intermediaries and then channeled to other economic agents with investments in mind.”

The future Luanda stock exchange is the central theme of the Capital Markets Forum, which will take place until Friday in the Angolan capital and is attended by several international sector specialists.

The Capital Markets Forum is being attended by several directors of US commercial banks and directors of Euronext as well as international specialists on setting up stock exchanges, and a former president of the Sao Paulo stock exchange, in Brazil. (macauhub)