{
  "title": "Namibia: 2010 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion",
  "publication": "IMF Staff Country Reports, September 1, 2010",
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  "summary": "Namibia was negatively impacted by the 2008 global financial crisis, reversing years of strong economic performance and deteriorating both fiscal and external positions. Accordingly, the authorities have committed to undertake fiscal consolidation with a view to reduce the fiscal deficit to 2.",
  "sections": [
    {
      "heading": "Economic impact of the 2008 global financial crisis",
      "content": "- Namibia was negatively impacted by the 2008 global financial crisis, reversing years of strong economic performance.\n- The crisis led to deterioration in both fiscal and external positions."
    },
    {
      "heading": "Fiscal stance and authorities' commitments",
      "content": "- Authorities committed to undertake fiscal consolidation with a view to reduce the fiscal deficit to 2.6 percent of GDP by 2014.\n- IMF staff emphasized the need for an earlier withdrawal of stimulus measures and ambitious fiscal consolidation."
    },
    {
      "heading": "IMF staff recommendations and policy analysis",
      "content": "- 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.\n- Key policy emphases:\n  - Earlier withdrawal of stimulus measures.\n  - Ambitious fiscal consolidation to restore fiscal and external positions.\n  - Align fiscal rules with debt-to-GDP metrics to mitigate SACU revenue volatility."
    },
    {
      "heading": "Subject coverage and keywords",
      "content": "- Subjects: Expenditure, Fiscal policy, Fiscal risks, Fiscal stance, National accounts, Public debt, Public financial management (PFM)\n- Keywords: CR, debt ratio, Fiscal risks, Fiscal stance, GDP ratio, Global, growth outlook, inflation rate, ISCR, lapse of time procedure, Namibia, rate, SACU revenue\n\n---\n\n Content in this bundle\n\n- cr10269 - Executive Summary\n  - cr10269 - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr10269 - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: September 1, 2010",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781455205721.002",
    "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.",
    "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.",
    "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:",
    "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",
    "**_cr10269 - Executive Summary**"
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