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Lusa - Business News - Angola: US to resume correspondent banks if corruption is tackled

Luanda, Mar. 18 (Lusa) – The United States will resume relations with correspondent banks if Angola restores economic confidence, namely combating corruption, the US deputy secretary of state said on Monday.
John J. Sullivan has also promised US support to Angola’s authorities on combating corruption, money laundering and the financing of terrorism.
On the first day of his state visit to Angola, Sullivan had a meeting with the Angolan foreign minister, Manuel Augusto, to update the "Strategic Partnership Dialogue" resumed by the two countries in September 2018.
“The reestablishment of relations with correspondent banks by the US in Angola is a very important issue for our commercial and investment relations.
My government colleagues and our embassy here, the state department in Washington and specially the treasury department, have been discussing with Angola’s government the best solutions to improve the investment climate in the country, namely by restoring the confidence of US banks so they restart relying on local correspondent banks”, John J. Sullivan explained.
Angola’s central bank had previously announced it was implementing, with the support from the IMF, the plan for the Angolan financial system to meet international standards.
The failure on complying with those standards led to the end of relations with correspondent banks in 2016, adding to the currency crisis and cutting the banking sector’s access to the purchase of US dollars.
The US deputy secretary of state has also announced that a new team from the US treasury department is due to arrive in Angola to help the country’s authorities combat corruption, money laundering and the financing of terrorism.
“At the end of the day, the decision is up to the banks, but we are committed to helping both the Angolan government and US banks to ensure that Angola is a safe country for investment”, he concluded.

Agency : LUSA

Date : 2019-03-19 08:55:31


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