Despite the Namibia Dollar being linked to the depreciating South Africa Rand, this is having a positive impact on some areas of Namibia’s economy. Mr Ndangi Katoma, Director for Strategic Communications and Financial Sector Development at the Bank of Namibia (BoN) says delinking the Namibia Dollar from the SA Rand will have a negative impact on the country’s economy, especially in terms of inflation and payment of transaction costs. Katoma stressed that with the depreciating currency, it could increase export revenue and lower imports which might reduce the current account deficit and lessen the pressure on our international reserves.
Spotlight News this week speaks to Mr Ndangi Katoma, Director for Strategic Communications and Financial Sector Development at the Bank of Namibia on the Pros and Cons of delinking the Namibia Dollar from the SA Rand.
LISTEN TO 99FM’s MAGGIE FORCELLEDO INTERVIEW WITH MR. KATOMA BELOW:
https://soundcloud.com/99fm/spotlight-news-weaker-rand-beneficial-to-namibia-economy