Banking liquidity averages N$3 billion during April
The banking industry’s overall liquidity position averaged N$3 billion in April, from N$254.5 million recorded in March, the Bank of Namibia reported.
The high liquidity level during the period under review was mainly due to fiscal operations after government redeemed the GC20 bond on the 15 April 2020.
The government also made several other payments in April such as the COVID-19 stimulus package and VAT refunds thus contributing to the observed spike in liquidity levels.
Kazembire Zemburuka Corporate Communications Deputy Director at the central bank told the Namibia Economist in addition to this, asset managers are also doing portfolio restructuring and re-balancing, which involves investment distribution to claimants, in response to changes in global markets caused by the outbreak of the COVID-19.