Namibia : Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Namibia

Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

April 12, 2021

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The COVID-19 pandemic has sharply deteriorated Namibia’s short-term macroeconomic outlook, giving rise to urgent balance of payments (BOP) and fiscal financing needs. After an initial outbreak peaked in August, a second wave hit in late 2020. Containment measures have negatively impacted domestic consumption and economic activity, weighing on tax revenues collection. Furthermore, worsening global conditions have hindered mining production and exports, tourism receipts, and investment inflows. The economy is expected to have sharply contracted by 7.2 percent in 2020, and the recovery is set to remain subdued in 2021.

Series:

Country Report No. 2021/076

Frequency:

regular

English

Publication Date:

April 12, 2021

ISBN/ISSN:

9781513576923/1934-7685

Stock No:

1NAMEA2021001

Format:

Paper

Pages:

47

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