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2024-04-02

Directive No. 02/2024, of March 25

Issued by the Governor through the Markets Department, this directive immediately adjusts key monetary policy rates, setting the Basic Interest Rate at 19.00%, the Permanent Liquidity Lending Facility rate at 19.5%, and the Absorption Facility rate at 18.5% per annum. It revokes Directive No. 11/2023, assigns interpretative authority to the Markets Department, and establishes non-compliance as a punishable offense under Financial Institutions Law No. 14/21. The rate adjustments align with the Monetary Policy Committee's March 2024 decisions and take immediate effect.

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GOVERNOR DIRECTIVE NO. 02/2024 ORIGIN: Markets Department (MD) DATE 25/03/2024 SUBJECT: FINANCIAL SYSTEM

  • Basic Interest Rate (BNA Rate)
  • Permanent Liquidity Lending Facility Rate (FCO)
  • Permanent Liquidity Absorption Facility Rate

Whereas it is necessary to adjust the Basic Interest Rate of BNA and the Interest Rates of the Lending and Absorption Facilities, regulated under Notice No. 11/2011 and Notice No. 12/2012, both dated April 2; In accordance with the decisions of the 116th ordinary session of the Monetary Policy Committee (MPC), held on March 14 and 15, 2024; This Directive serves to establish the following:

  1. The Basic Interest Rate of BNA (BNA Rate) is set at 19.00% (nineteen percent) per annum.
  2. The Interest Rate of the Permanent Liquidity Lending Facility (FCO) is set at 19.5% (nineteen point five percent) per annum.
  3. The Interest Rate of the Permanent Liquidity Absorption Facility (FAL) is set at 18.5% (eighteen point five percent) per annum.
  4. Directive No. 11/2023, dated November 24, on the Basic Interest Rate and Permanent Lending and Absorption Facilities, is hereby revoked.
  5. Doubts and omissions arising from the interpretation and application of this Directive are resolved by the Markets Department.

CONTINUATION OF DIRECTIVE NO. 02/2024 Page 2 of 2 6. Non-compliance with the provisions of this Directive constitutes an offense provided for and punishable under Law No. 14/21, dated May 19, the General Regime of Financial Institutions Law. 7. This Directive enters into force immediately. Luanda, March 25, 2024 MARKETS DEPARTMENT

Tânia Patrícia de Oliveira Mendes Lopes -Director-

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