PESA Editorial on Namibia: 1H2023/24

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• Create Date December 8, 2023
• Last Updated December 16, 2023

Namibia’s economy has struggled with recovering from the global shocks caused by the COVID-19 pandemic in 2020 but seems to have benefited from the Russia-Ukraine conflict in 2022. The Bank of Namibia (BoN) does not have an explicit inflation target and utilises an exchange rate targeting monetary policy framework by maintaining foreign exchange reserves to defend the NAD peg to the ZAR. The Government of Namibia has followed an unpredictable fiscal policy that is sometimes prudent and otherwise procyclical. Namibia’s external sector has not recovered from the global shock caused by the COVID-19 pandemic in 2020 and has not benefited from the higher commodity prices in the aftermath of the Russia-Ukraine conflict in 2022. Namibia is scheduled to hold its national elections in 2024. Incumbent President H.E. Hage Gottfried Geingob is not eligible for re-election given that he is serving a second term in office. Namibia has retained political stability and continuity under the ruling SWAPO maintaining its dominance. Read more accurate and balanced analysis of the political economy in Namibia here: https://politicaleconomy.org.za/2023/12/pesa-editorial-on-namibia-1h2023-24/.