Namibia: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Namibia
IMF Staff Country Reports, April 12, 2021
Source details
- Canonical URL
- Namibia: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Namibia
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Bibliographic details
- Published: April 12, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513576923.002
Overview and context
- Publication date: April 12, 2021
- Core message: 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.
- Epidemiological timeline noted in the report:
- An initial outbreak peaked in August.
- A second wave hit in late 2020.
Macroeconomic impact and outlook
- Economic contraction:
- The economy is expected to have sharply contracted by 7.2 percent in 2020.
- Near-term recovery:
- The recovery is set to remain subdued in 2021.
- Channels of impact highlighted:
- Containment measures have negatively impacted domestic consumption and economic activity, weighing on tax revenues collection.
- Worsening global conditions have hindered mining production and exports, tourism receipts, and investment inflows.
Policy areas and subjects covered
- Subject areas listed in the source:
- COVID-19
- Fiscal consolidation
- Fiscal policy
- Fiscal stance
- Health
- International organization
- Monetary policy
- Public debt
- Revenue administration
- Keywords as provided:
- COVID-19
- Fiscal consolidation
- Fiscal stance
- Global
- health emergency
- IMF disbursement
- Namibia investment promotion bill
- stepping-up emergency health
- undertaking emergency health
Content in this bundle
- 1namea2021001