Namibia: 2010 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion
IMF Staff Country Reports, September 1, 2010
Source details
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- Namibia: 2010 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion
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Bibliographic details
- Published: September 1, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455205721.002
Economic impact of the 2008 global financial crisis
- Namibia was negatively impacted by the 2008 global financial crisis, reversing years of strong economic performance.
- The crisis led to deterioration in both fiscal and external positions.
Fiscal stance and authorities' commitments
- Authorities committed to undertake fiscal consolidation with a view to reduce the fiscal deficit to 2.6 percent of GDP by 2014.
- IMF staff emphasized the need for an earlier withdrawal of stimulus measures and ambitious fiscal consolidation.
IMF staff recommendations and policy analysis
- Staff called for streamlining fiscal rules with the debt-to-GDP ratio to help isolate fiscal policy from volatile Southern Africa Customs Union (SACU) revenues.
- Key policy emphases:
- Earlier withdrawal of stimulus measures.
- Ambitious fiscal consolidation to restore fiscal and external positions.
- Align fiscal rules with debt-to-GDP metrics to mitigate SACU revenue volatility.
Subject coverage and keywords
- Subjects: Expenditure, Fiscal policy, Fiscal risks, Fiscal stance, National accounts, Public debt, Public financial management (PFM)
- Keywords: CR, debt ratio, Fiscal risks, Fiscal stance, GDP ratio, Global, growth outlook, inflation rate, ISCR, lapse of time procedure, Namibia, rate, SACU revenue
Content in this bundle
- _cr10269 - Executive Summary