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2023-03-30

Directive No. 05-2023, of March 29

The Bank of Angola’s Markets Department, acting pursuant to the Monetary Policy Committee’s one hundred and tenth ordinary session, establishes the Basic Interest Rate (BNA Rate) at 17.00% per annum and sets the Permanent Lending Facility rate at 17.00% and the Liquidity Absorption Facility rate at 13.50%. The directive explicitly grants the Markets Department authority to resolve interpretive doubts and omissions, while simultaneously revoking Directive No. 02/DME/2023 and any conflicting provisions. This regulatory update takes immediate effect as of March 29, 2023, to align Angola’s monetary policy instruments with current economic conditions.

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GOVERNOR DIRECTIVE NO. 05/DME/2023 ORIGIN: MARKETS DEPARTMENT (DME) DATE 29/03/2023 SUBJECT: FINANCIAL SYSTEM

  • Basic Interest Rate (BNA Rate) and Rates of the Permanent Lending Facility (FCO) and Liquidity Absorption Facility - Notice No. 11/2012 and Notice 12/2012 both dated April 02 Whereas it is necessary to adjust the basic interest rate of BNA, and the interest rates of the Lending and Liquidity Absorption Facilities, regulated under Notice No. 11/2012 and Notice 12/2012 both dated April 02; In accordance with the decisions of the one hundred and tenth ordinary session of the Monetary Policy Committee, held on March 21, 2023; This Directive serves to establish the following:
  1. The basic interest rate of BNA (BNA Rate) is set at 17.00% (seventeen percent) per annum.
  2. The interest rate of the Permanent Liquidity Lending Facility (FCO) is set at 17.00% (seventeen percent) per annum.
  3. The interest rate of the Permanent Liquidity Absorption Facility is set at 13.50% (thirteen point five percent) per annum.
  4. Doubts and omissions resulting from the interpretation and application of this Directive are clarified by the Markets Department;
  5. Directive No. 02/DME/2023, dated January 23, on the basic interest rate and Permanent Lending and Liquidity Absorption Facilities, is revoked, as well as all provisions that conflict with this Directive.
  6. This Directive enters into force immediately. Luanda, March 29, 2023. MARKETS DEPARTMENT

Tânia Patrícia de Oliveira Mendes Lopes -Director-

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