04
Jul
Allexer Namundjembo Economists say Namibia's downgrade by the World Bank is not a death sentence and should instead be used to reset the country’s development path. This week, the World Bank reclassified Namibia from an upper-middle-income to a lower-middle-income country in its latest income classifications for the 2026 fiscal year, which runs from 1 July 2025 to 30 June 2026. Namibia was the only country globally to be downgraded. Economist Josef Sheehama said the downgrade was expected due to a decline in mining activity and the country’s overreliance on commodity exports. “Now we move from Export Concentration Risk Commodity to…
