Angola | 2019.01.07
TEMPORARY SUSPENSION OF FOREIGN EXCHANGE CONTROLS FOR IMPORTATION OF GOODS

The Central Bank of Angola ("BNA") issued Instruction No. 21/2018, of 11 December 2018, temporarily suspending – until 31 December 2019 – foreign exchange licensing for the importation of goods currently pending settlement for more than 360 days as from the date of their importation (i.e. as from the date of the unloading of the goods). However, commercial banks must review all pertinent documentation to confirm the lawfulness of the relevant operation. Loans and other credit agreements entered into between foreign suppliers and importers of goods remain subject to BNA’s licensing.

For further information about the content of this Legal Alert, please contact:
angola@mirandaalliance.com

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