IMF Staff Country Reports

Namibia: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Namibia

Publication Date:

April 12, 2021

Electronic Access:

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Summary:

The COVID-19 pandemic has sharply deteriorated Namibia’s short-term macroeconomic outlook, giving rise to urgent balance of payments (BOP) and fiscal financing needs. After an initial outbreak peaked in August, a second wave hit in late 2020. Containment measures have negatively impacted domestic consumption and economic activity, weighing on tax revenues collection. Furthermore, worsening global conditions have hindered mining production and exports, tourism receipts, and investment inflows. The economy is expected to have sharply contracted by 7.2 percent in 2020, and the recovery is set to remain subdued in 2021.

Series:

Country Report No. 2021/076

Subject:

COVID-19 Fiscal consolidation Fiscal policy Fiscal stance Health International organization Monetary policy Public debt Revenue administration

Frequency:

regular