Angola

Angolan President Jose continues central bank shakeup

Posted on by The Editorial Team
Angolan President Jose continues central bank shakeup

LUANDA, Angola, Capital Markets in Africa: Angolan President Jose Eduardo dos Santos replaced two deputy central bank governors on Wednesday, his office said in a statement, the latest round of shake-ups at the bank as the oil-rich African country seeks assistance from the IMF. Dos Santos in March appointed little-known Valter Filipe da Silva as Angola’s new central bank governor after José Pedro de Morais resigned. His office said Gualberto Manuel Amaro Lima Campos and…

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Angola | Moody’s downgrades Angola’s rating to B1 with negative outlook

Posted on by The Editorial Team
Angola | Moody’s downgrades Angola’s rating to B1 with negative outlook

Luanda, Angola, Capital Market in Africa — Moody’s Investors Service has today downgraded the long-term issuer and senior unsecured debt ratings of the Government of Angola to B1 from Ba2 and assigned a negative outlook. The short-term issuer ratings have been affirmed at Not-Prime (NP). The key drivers of the downgrade are: The government’s financial position and the country’s external position have deteriorated sharply due to the shock stemming from the structural downward shift in…

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Angola’s central bank Raises Basic Interest Rate by 2% in March

Posted on by The Editorial Team
Angola’s central bank Raises Basic Interest Rate by 2% in March

Luanda, Angola, Capital Markets in Africa —  National Bank of Angola (BNA, Banco Nacional de Angola) Monetary Policy Committee (CPM) held a meeting on 28 March 2016, decided to increase the Basic Interest Rate to by 200 basis points to 14.oo percent, to manage inflation rate and strength the currency, BNA said in a statement on its website on Tuesday. In addition, the central bank raised the standing lending facility rate to 16 percent from 14…

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Angola’s central bank leaves key interest rate unchanged at 12% in February

Posted on by The Editorial Team
Angola’s central bank leaves key interest rate unchanged at 12% in February

Luanda, Angola, Capital Markets in Africa — National Bank of Angola (BNA, Banco Nacional de Angola) kept the Basic Interest Rate unchanged at 12.00 percent, to maintain price stability, and taking into account the economic outlook. In addition, the Interest Rate Standing Facility Liquidity Lending and the Interest Rate Standing Facility Liquidity Absorption to seven days remained unchanged at 14.00 percent and 1.75 percent respectively, the BNA stated in the press release. Regarding evolution of…

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Angola’s Credit Rating Downgraded by S&P After Oil Price Drop, Stable Outlook

Posted on by The Editorial Team
Angola’s Credit Rating Downgraded by S&P After Oil Price Drop, Stable Outlook

Luanda, Angola, Capital Markets in Africa — Standard & Poor’s Ratings Services lowered its long-term foreign and local currency sovereign credit ratings on the Republic of Angola to ‘B+/B’ from ‘BB-/B’ with stable outlook.  Also, S&P  lowered Angola’s transfer and convertibility assessment to ‘B+’ from ‘BB-‘. Standard & Poor’s downgraded Angola’s credit rating to B after a decline in oil prices curbed government revenue. This downgrade putting the nation’s debt five levels below investment grade….

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National Bank of Angola Raises BNA Rate by 1% to 12.00% in January

Posted on by The Editorial Team
National Bank of Angola Raises BNA Rate by 1% to 12.00% in January

Luanda, Angola, Capital Markets in Africa — National Bank of Angola (BNA, Banco Nacional de Angola) Monetary Policy Committee (CPM) raised the Basis Interest Rate (BNA rate) by 100 basis points  to 12.00%, to curb inflation pressure and to support the weakening Angolan kwanza amid declining oil revenues. Furthermore, the CPM increase the Marginal Lending Rate by 100 basis points from 13.00% to 14.00% and retained the seven-day maturity Liquidity Absorbing Rate at 1.75 percent….

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