The remarks were made by Standard Bank Namibia’s Manager of Economics and Market Research, Mally Likukela, in her analysis of the current situation of the rand tumbling.


Namibia became a member of the CMA right after independence in order to benefit from the price stability, credibility and less volatile South African Rand that the CMA offered.

“The arrangement which entails that Namibia pegs its currency to the Rand has been beneficial in several ways, but since the recent downward spiral of the Rand, these benefits are gradually eroding,” Likukela said.

She said the current situation had brought to the fore the fundamental question of whether Namibia should explore alternative exchange rate regimes that could better serve Namibia’s developmental interests.

Meanwhile, according to Likukela, calls for an alternative exchange rate regime have increasingly becoming louder than ever before and it’s about time Namibia’s government responds and acts to avoid being caught off guard. Enditem

Source: Xinhua


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