Sunday, May 5, 2013
New Kwanza Notes
Luanda — The new set of Angolan Kwanza (AKz) notes will be placed into circulation in the first semester of the year 2013, informed on Monday in Luanda the governor of the National Reserve Bank (BNA), José de Lima Massano. Speaking at a specialised meeting organised to assess and discuss the Draft State Budget for this financial year, the BNA governor explained that the new notes will contribute to the sustenance of the country's economic activity growth. In view of this, he said, the National Reserve Bank (BNA) will make a formal pronouncement on this issue on January 29. In 2012, the BNA announced that the authorities are to release in 2013 a new set of Kwanza notes, including coins, which would enter the market in a gradual way, particularly the high value bills (5000 and 10.000 Kwanzas). On the occasion, the governor pointed out as immediate advantages for the country's economy the opportunity to utilise more modern and advanced techniques of production, so that the country's currency can gain an international pattern. According to the source, this move is also intended to make the currency more durable and better protected, in addition to that there is also the fact that the coins will be in circulation again, thus facilitating changes and decreasing other constraints observed in the retail market. The National Reserve Bank has already received the authorisation of the National Assembly (Parliament) for the implementation of this measure, as required by law.