Revenues retained in Angola by companies operating in the country will be fully repaid in July, announced Friday in Luanda the governor of the National Bank of Angola, Mr. José de Lima Massano, adding that the amount was less than $ 100 million compared to $ 540 million at the beginning of the year.
Regarding Angola, the amount withheld in Angola due to the impossibility of obtaining foreign exchange fell from more than 100 million dollars to 386 million dollars for the month of June, however, Angola remains the second country with the most revenue after Venezuela with 3.78 billion, according to statements made in Luanda by the president of the International Air Transport Association (IATA), Mr. Alexandre de Juniac.
These companies finance the sale of air tickets that they can not repatriate in the case of Angola because of the significant economic, financial and currency crisis that the country has been experiencing since the end of 2014.
The situation has led Angola to accumulate debts, in the form of frozen funds – deposited in Angolan currency in national banks and awaiting authorization for repatriation – to a “peak” of more than 500 million dollars, according to IATA.
The governor of the National Bank of Angola, who was speaking at the closing session of the 8th Banking Forum, promoted by the Angolan weekly Expansão, also reported that by the end of 2017, the country had about $ 3 billion in delayed currency transfers.