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Namibia: 2019 Article IV Consultation-Press Release and Staff Report

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  • International Monetary Fund

Abstract

This 2019 Article IV Consultation with Namibia discusses that with the temporary stimuli now ended, the economy is rebalancing while the government is implementing a significant fiscal consolidation. A likely slow recovery, the need for further fiscal adjustment to bring public debt to a sustainable path, persistent inequalities and structural impediments to growth, point to a challenging outlook. Immediate measures are needed to deliver the authorities’ fiscal adjustment plans and bring public debt to a sustainable path. Policies should combine spending reductions and revenue increases that support long-term growth. Better targeting of cash transfers would protect the poor. Structural reforms are urgently needed to strengthen productivity and external competitiveness and boost long-term growth. Reforms should streamline business regulations, contain public sector wage dynamics, and reduce costs of key production inputs. Over time, it is important to remove non-tariff barriers to exports, foster the adoption of new technologies, and address shortages of skilled workers.

Suggested Citation

  • International Monetary Fund, 2019. "Namibia: 2019 Article IV Consultation-Press Release and Staff Report," IMF Staff Country Reports 2019/295, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2019/295
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=48675
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    Cited by:

    1. Joseph Mawejje & Nicholas M. Odhiambo, 2021. "Uganda's fiscal policy reforms: What have we learned?," Public Budgeting & Finance, Wiley Blackwell, vol. 41(2), pages 89-107, June.

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