Namibia government’s total debt continued to increase year-on-year, reflected in both the domestic and foreign borrowings, the central bank said Friday.

As a result, the government’s total debt as a percentage of GDP increased to 49.2 percent at the end of September 2019, from 45.1 percent a year earlier, the Bank of Namibia (BoN) said in a quarterly bulletin released Friday.


“Conversely, government loan guarantees declined to 6.2 percent from 6.4 percent of GDP over the same period and remained well below the threshold of 10 percent,” the central bank said.

Meanwhile, BoN’s report on the external sector front said, the current account deficit improved, while the International Investment Position recorded a reduced net liability position during the third quarter of 2019.

“The moderate improvement in the current account deficit during the period under review was primarily due to a smaller merchandise trade deficit, coupled with increased inflows on the secondary income account due to higher Southern African Customs Union receipts,” BoN added.

The current account registered a deficit of around 77 million U.S. dollars during the third quarter of 2019, compared to a deficit of 91 million U.S. dollars during the corresponding quarter of 2018. Enditem


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