## 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](https://www.imf.org/en/publications/cr/issues/2021/04/12/namibia-request-for-purchase-under-the-rapid-financing-instrument-press-release-staff-report-50352)

## Other formats

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## Bibliographic details
- Published: April 12, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513576923.002

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### 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

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## Content in this bundle

- **1namea2021001**
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_Source: https://www.imf.org/en/publications/cr/issues/2021/04/12/namibia-request-for-purchase-under-the-rapid-financing-instrument-press-release-staff-report-50352_