Angop - Agência de Notícias Angola Press

BNA makes available USD 1.6 billion in Letters of Credit

Thu, 28 Feb 2019 13:31 - Economy

Luanda - Between September 2018 and last January, the National Bank of Angola (BNA) made available 1.6 billion Dollars to open letters of credit for the payment of merchandise abroad.

  • BNA Building - Luanda

Of this amount USD 923.43 million have already been liquidated and represents 56 percent, according to BNA Foreign Exchange Repatriation department director, Veloso Pedro.

Food products account for 44 percent of the value of the Letters of Credit issued by the National Bank of Angola for payment abroad.

The Regulation on the Letter of Credit came into force in September 2018, to adjust the new payment model in the purchase of merchandise abroad.

The official, who was speaking on the annual cycle of lectures on International Trade under Letters of Credit, explained that September 2018 was the period in which BNA made more foreign exchange available, reaching USD 516.17 million.