Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2023 Article IV Mission to Namibia

On the back of sustained mining growth and recovery in tourism, real GDP growth reached 4.6 percent in 2022 and economic activity is expected to surpass the pre-pandemic level in 2023 with a growth of 3.2 percent

Driven by mining, Namibia’s real GDP grew 4.6 percent in 2022. Growth of 3.2 percent in 2023 is expected to bring output back above the pre-pandemic level; Maintaining the fiscal reform momentum is key to preserve debt sustainability, cushion against the volatility of SACU revenues, and foster private sector-led growth.…

Source: International Monetary Fund (IMF) |

Namibia Subscribes to the International Monetary Fund’s Special Data Dissemination Standard

Bert Kroese, Chief Statistician and Data Officer, and Director of the IMF’s Statistics Department, welcomed this major milestone in the country’s statistical development

Namibia subscribed to the IMF’s Special Data Dissemination Standard (SDDS), becoming the fifth country in Sub-Saharan African to reach this goal. By subscribing to the SDDS, Namibia graduated from the Enhanced General Data Dissemination System (e-GDDS) in which the country had participated since June 27, 2016. Bert Kroese, Chief Statistician…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes 2022 Article IV Mission to Namibia

An International Monetary Fund (IMF) staff team, led by Ms. Giorgia Albertin, IMF mission chief for Namibia, held a virtual mission during September 20 ‒ October 5, 2022, to conduct the 2022 Article IV Consultation discussions with Namibia

After a sharp contraction due to the COVID-19 pandemic, the Namibian economy has started to recover. Real GDP growth is expected at 3 percent in 2022 and 3.2 percent in 2023; preserving macroeconomic stability, advancing structural reforms and protecting the most vulnerable is key to foster private sector-led inclusive growth…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff completes 2019 Article IV Mission to Namibia

Immediate action is needed to contain the FY19/20 fiscal deficit within the budget limits

The economy will continue to mildly contract this year and recover gradually thereafter; immediate action is needed to contain the FY19/20 fiscal deficit within the budget limits; structural reforms are needed to strengthen productivity and competitiveness, lift business confidence, and boost the long-term growth potential of the economy. An International…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2019 Article IV Mission to Namibia

An International Monetary Fund (IMF) staff team led by Mr. Geremia Palomba, IMF Mission Chief for Namibia, visited Windhoek during May 22-June 4, 2019

The economy will continue to mildly contract this year and recover gradually thereafter; Immediate action is needed to contain the FY19/20 fiscal deficit within the budget limits; Structural reforms are needed to strengthen productivity and competitiveness, lift business confidence, and boost the long-term growth potential of the economy. An International…

Source: International Monetary Fund (IMF) |

IMF Executive Board Concludes 2016 Article IV Consultation with Namibia

Since the financial crisis, Namibia has experienced remarkable growth and economic progress

On December 2, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Namibia. Since the financial crisis, Namibia has experienced remarkable growth and economic progress. Strong policy frameworks and expansionary domestic policies have contributed to macroeconomic stability, robust growth, and rising living standards.…

Source: International Monetary Fund (IMF) |

Namibia Adheres to the International Monetary Fund’s Enhanced General Data Dissemination System

Namibia has implemented the recommendations of the Enhanced General Data Dissemination System (e‑GDDS)—endorsed by the IMF Executive Board in May 2015—by disseminating a National Summary Data Page (NSDP). The page serves as a one‑stop publication vehicle for essential macroeconomic data—in both human and machine‑readable formats. It is now posted on the…

Source: International Monetary Fund (IMF) |

AFRITAC South Holds Seminar on Strengthening Supervisory Approaches to AML/CFT

During May 16-20, 2016, the International Monetary Fund’s Regional Technical Assistance Center for Southern Africa (AFRITAC South) held a seminar at the premises of the IMF’s Africa Training Institute in Mauritius on Risk-Based Approaches to Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT) Supervision. The event brought together…

Source: International Monetary Fund (IMF) |

IMF’s Regional Technical Assistance Center for Southern Africa Supports Strengthening Risk Based Supervision

On February 22–26, the International Monetary Fund’s (IMF) Regional Technical Assistance Center in Southern Africa (AFRITAC South) held a regional seminar at the Africa Training Institute in Mauritius on improving compliance with Risk Based Supervision (RBS) and Pillar 2 of Basel II. The event brought together senior and mid-level officials…

Source: International Monetary Fund (IMF) |

The IMF’s Regional Technical Assistance Center South Supports Strengthening Coordinated Border Management

On February 15–19, 2016, AFRITAC South held a seminar at the Africa Training Institute in Mauritius on improving compliance of indirect taxes and coordinated border management (CBM). The event brought together senior customs officials from revenue administrations from Angola, Comoros, Lesotho, Madagascar, Mauritius, Namibia, Seychelles, South Africa, Swaziland, Zambia and…