Monday, 13 April 2009
Is Angola planning a devaluation?
Angola's President Jose Eduardo dos Santos dismissed central bank governor Amadeu Mauricio with immediate effect. This could be a prelude to devaluation. Efforts to keep the kwanza stable have weighed on the country's foreign reserves, which have fallen to $13.96 billion from $18.9 billion at the end of 2008. The kwanza has been pegged at around 75 to the U.S. dollar in recent years.