NAMIBIA: IMF GRANTS FIRST EVER LOAN DESPITE CONCERNS OVER STATE CORRUPTION
Mon, 12 April 2021
The IMF has approved its first ever loan to Namibia almost a year after the pandemic battered country initially applied to the Fund. The loan will help plug a gaping budget deficit and mitigate sovereign non-payment risks, but the programme’s lack of conditionalities will do little to pressure the government to curb corruption and push ahead with much-needed economic reforms and parastatal restructuring.
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