Nam’s foreign debt mainly in Euro

The government of Namibia’s total foreign debt stood at 33.2 billion dollars at 31 March 2021 compared to 36.5 billion the previous year after interest payments amounting to two billion and over 20 million in cost for borrowing were made. This is contained in the Auditor General’s report on government finances for 2020/2021. of the expenditure related to borrowing was for settling the capital amounts on the loans. In 2021 about N$40.55 billion was spend on repayment of debt of which 38 billion was for domestic debt. The foregoing amounts show that most of Namibia’s borrowings are skewed to the…