Select Page

SACU receipts, AfDB loan boost foreign reverses in 2018

SACU receipts, AfDB loan boost foreign reverses in 2018

The level of international reserves held by the Bank of Namibia rose by 2.8% over the year to 2. 2 N$31 billion at the end of Dec. 2018, according to a report released this week Tuesday by the bank.

The rise in reserves was partly due to inflows of the Southern African Customs Union (SACU) receipts and the second tranche of the African Development Bank loan to the government, the Bank of Namibia said in their annual report.

“The reserves were estimated to cover 4.5 months of the country’s imports of goods and services, which was slightly higher than the 4.4 months recorded at the end of 2017,” the bank’s Deputy Governor, Ebson Uanguta said.

Meanwhile, according to the central bank, Namibia’s current account deficit narrowed further to 2.1% of GDP during 2018 from 5.1% of GDP in 2017.


About The Author

Windhoek – Flat to let near central business district

One Bedroom flat available for single tenant

Separate bedroom, separate bathroom, combined kitchen and lounge

Airconditioning in lounge

Secure yard with one inside parking bay

Parking bay under shade netting

Walking distance from the CBD

One block away from Wernhil Shopping Mall

Quiet street – G4S security

Water included, electricity excluded

Monthly rent: N$5289.00 excluding electricity

Deposit: N$2500

To view please contact Mrs Don Camm

Tel: 061 221925