Namibia: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Namibia

December 14, 2022

Summary

Namibia has been severely hit by the COVID-19 pandemic but has started to gradually recover. After a sharp contraction in 2020, with worsening fiscal imbalances and socio-economic disparities, a modest recovery began in 2021 and strengthened in the first half of 2022. Mining activity rebounded while manufacturing and tertiary sector activities gradually started to recover. Inflationary pressures have increased, as higher international oil and food prices due to Russia’s war in Ukraine were passed-through. The political context remains stable, with elections scheduled in 2024.

Subject: External position, Fiscal consolidation, Fiscal policy, Food prices, International organization, Monetary policy, Prices, Public debt, Revenue administration

Keywords: Africa, authorities project SACU revenue, FAD TA, Fiscal consolidation, Food prices, Global, IMF team, targeted reform agenda, tertiary sector, transparency policy

Pages:
111
Volume:
2022
DOI:
https://doi.org/10.5089/9798400225048.002
Issue:
364
Series:
Country Report No. 2022/364
Stock No:
1NAMEA2022001
ISBN:
9798400225048
ISSN:
1934-7685

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