Angola: IMF welcomes BPC restructuring

Luanda – The International Monetary Fund (IMF) welcomed the Plan for Restructuring and Recapitalization of the Angolan Savings and Credit Bank (BPC), which must be based on solid bases, to contribute to the country’s development.

This was said to the press on Tuesday in Luanda by the head of the IMF mission, Ricardo Velloso, at the end of the meeting with the members of the 5th Commission for Economy and Finance of the National Assembly.

He considered BPC a “very important” bank for the life of the country, predicting that nothing will disturb the objectives of the referred development.

The state-owned bank, which is 75 percent owned by the State, increased its share capital by AKZ 90 billion, as a result of the Universal Shareholders’ Meeting held on March 24.

At the meeting, the IMF delegation heard some suggestions and themes that could be elaborated over the next few months, in order to be presented at the annual consultation under the article IV of this financial institution of Bretton Woods.

Issues such as the insurance and pension market development were, among others, considered economic activities that may constitute additional sources of long-term financing for the country, according to Ricardo Velloso.

The vice chair of the 5th Commission for Economy and Finance of the National Assembly, Diogenes de Oliveira, led the meeting with the IMF delegation.

The IMF delegation is in the country since March 22 for regular technical consultation, under the fourth article of the statutes of this international financial institution.

Source: Angola Press News Agency