Fitch Ratings (Fitch) downgraded Namibia

Namibia’s Rating Downgrade: What does it mean for Namibia? – By Josef Kefas Sheehama

Fitch Ratings (Fitch) downgraded Namibia’s long-term foreign currency credit rating to BB- and changed the outlook from negative to stable on Friday, June 24. This reflect high and rising government debt and exacerbated by the economic shock. A downgrade means that when Namibia needs to borrow more money, as it inevitably will, investors will demand a higher interest rate because of the lower creditworthiness of the country. This will translate into higher interest costs which leave less money to be spent on running and developing the country. Successful economic policy requires that priority be given to interventions which offer the…
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