Financial system remains stable amid challenging economic environment – report
The financial system remains sound and resilient according to a joint financial stability report launched on Tuesday by the Bank of Namibia (BoN) and the Namibia Financial Institutions Supervisory (NAMFISA).
The system continues to operate efficiently with no disruption despite a somewhat challenging economic environment, the central bank governor, Johannes !Gawaxab said in a statement.
“In the global landscape, there is a prevailing trend of persistent inflation which presents a challenge for policymakers, he added.
However, despite this there is a sense of optimism within the financial sector, thus indicating confidence in economic prospects, he said.
“We must therefore jealously safeguard the stability of our financial system and preserve the gains of collaborative efforts as we march forward with renewed commitment and excitement for the new frontier that stretches before us,” !Gawaxab concluded.
