Southern African Customs Union revenue

Namibia’s international reserves healthy

Tujoromajo Kasuto Despite a drop in the Southern African Customs Union revenue by 22 percent in 2021 to N$16.6 billion from N$21.4 billion in 2020, as well as the redemption of Namibia’s first Eurobond of N$7.2 billion, the foreign reserve position of the country increased by 38.5 percent over the course of 2021 to a level of N$43.9 billion at year end. The growth in foreign reserves during 2021 resulted mainly from the International Monetary Fund’s Rapid Financing Instrument loan amounting to N$3.9 billion, an inflow of N$1.5 billion from the African Development Bank also a loan, and the N$6.8…
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