Namibia: 2010 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion

September 1, 2010

Preview Citation

Format: Chicago

Namibia: 2010 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2010) accessed December 26, 2024

Summary

Namibia was negatively impacted by the 2008 global financial crisis, reversing years of strong economic performance and deteriorating both fiscal and external positions. Accordingly, the authorities have committed to undertake fiscal consolidation with a view to reduce the fiscal deficit to 2.6 percent of GDP by 2014. IMF staff emphasized the need for an earlier withdrawal of stimulus measures and ambitious fiscal consolidation. Staff also called for streamlining fiscal rules with the debt-to-GDP ratio to help isolate fiscal policy from volatile Southern Africa Customs Union (SACU) revenues.

Subject: Expenditure, Fiscal policy, Fiscal risks, Fiscal stance, National accounts, Public debt, Public financial management (PFM)

Keywords: CR, Debt ratio, Fiscal risks, Fiscal stance, GDP ratio, Global, Growth outlook, Inflation rate, ISCR, Lapse of time procedure, Namibia, Rate, SACU revenue

Publication Details

Pages:

47
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/269
Stock No:

1NAMEA2010001
ISBN:

9781455205721
ISSN:

1934-7685

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