CORRECTION: Angolan central bank pays BoN US.dollars 150 million

27 Oct 2017 18:10pm
CORRECTING FIGURE IN SECOND PARA FROM 'US dollars 100 million' to 'US dollars 51 million'

WINDHOEK, 25 OCT (NAMPA) – The Bank of Namibia (BoN) announced on Wednesday that the Banco Nacional de Angola (BNA) has paid up to US. dollars 150 million (approximately N.dollars 2.1 billion) of its debt to Namibia, amounting to nearly N.dollars 4 billion.
Addressing the media in the capital, BoN Governor Ipumbu Shiimi explained that another payment of US dollars 51 million (nearly N.dollars 722 million) is expected to be made by Angola’s central bank in December this year.
The last payment will be made in June 2018.
He said since the two central banks renegotiated the re-payment scheduled in December last year, that bank has adhered strictly to the agreement.
The BoN and BNA entered into an agreement on 18 June 2015 to allow the exchange of the Angolan Kwanza for the Namibian Dollar at Oshikango in northern Namibia and Santa Clara in southern Angola, in an effort to maintain the momentum of business transactions between the two countries.
The two central banks agreed for the BNA to repay the BoN repurchase costs for Kwanzas that have come and gone through Namibia since the agreement was implemented.