Angola: Deputy-governor of central bank guarantees there are reserves to weather the economic crisis

24 February 2009

Luanda, Angola, 24 Feb – BNA deputy-governor, Rui Minguês, said that there was sufficient domestic capacity as well as financial reserves for Angola to survive, at least in the near future, the global economic and financial crisis.

Taking part in the conference on the “Effect of the global economic and financial crisis on national economies,” Minguês advised, however, all economic entities, families and even the State to moderate spending and prepare to make sacrifices in order to survive the crisis.

According the vice-governor, greater efficiency should be demanded of public companies, increasing efficiency, productivity, and profit levels.

He also said that the Government had pledged to maintain macro-economic stability, with inflation below 10 percent for 2009, as well as the exchange rate, because it understood the need for a compromise on stability in the exchange rate. (macauhub)