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The Angolan Kwanza and the Portuguese Co-operation

  • Maria Eugénia MataEmail author
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Part of the Palgrave Studies in Economic History book series (PEHS)

Abstract

Many of Angola’s economists graduated in Lisbon, and had Portuguese university mates working in all sectors of activity. For the dissociation between the BNA functions as central bank from commercial banking functions, Angolan authorities asked for the presence of Portuguese staff in Luanda to help identify the local training needs amongst Angolan staff, as well as provide computational assistance and consultancy. With Portuguese scholarships to move to Lisbon, training included project analysis and credit risk assessment, balance of payments and international operations, foreign debt, exchange rates and management of currencies, banking law, contracts and arbitrage, and forecast analysis. Under the same conditions defined for all the Portuguese-speaking countries, trade cooperation with Angola was very successful, namely the “Evergreen” agreement of 1987 to fuel trade payments with Angolan oil. For the first time in the twentieth century Banco de Portugal opened a delegation abroad, in Luanda, in 1992, for the Portuguese/Angolan co-operation for trade.

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Copyright information

© The Author(s) 2020

Authors and Affiliations

  1. 1.Nova School of Business and EconomicsUniversidade Nova de LisboaCarcavelosPortugal

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