Nico Smit

Govt faces borrowing headache

Govt faces borrowing headache

Staff Writer The Popular Democratic Movement (PDM) has warned that the country’s indebtedness is reaching precarious levels, a position which could one day hamper its ability to pay the interest on what is owed. This comes as ratings agency, Moody’s downgraded Namibia’s government debt on Friday from the previous Ba2 rating to Ba3. “The government has become so completely dependent on borrowing, that just one more small external shock will put it in a position where it cannot pay the interest on its debt. This will lead to an automatic downgrade to the ‘C’ category according to Moody’s system, which…
Read More