Iipumbu Shiimi: Challenges facing Namibian economy

Remarks by Mr Ipumbu Shiimi, Governor of the Bank of Namibia, at the Chevening Alumni Event, Windhoek, 29 August 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
30 November 2018


1. It is an honor for me to be here today, bidding farewell to the 2018/2019 Chevening scholars and at the same time, an opportunity to connect with the growing network of Chevening Alumni.

2. My talk this afternoon, is centered on the status of the Namibian economy with a view to inform you esteemed scholars of your contribution to propel Namibia forward.

3. Namibia, as some of you are keenly aware, has been experiencing a difficult economic environment. The Namibia Statistics Agency recently released a revision of the GDP growth in 2017 from -0,8% to -0,9%. Going forward, the Bank of Namibia forecast the economy to grow by 0,6%, slightly better than last year's contraction.