The nation’s economy has partly been dragged down by anaemic growth and power shortages in SA
Flavia Krause-JacksonLondon — Namibia is ruling out dropping its currency peg with the rand “unless something very drastic happens”, given its close trade links with its larger neighbour and its drive to recover from recession.
The economy of the world's top producer of marine diamonds has been dragged down partly by anaemic growth in SA. Power shortages in SA have spilled into Namibia, which imports electricity. That prompted calls for a review of the currency arrangement and customs agreement. “We have taken tough actions, painful ones” including cutting back wasteful spending and tackling corruption, Geingob said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Namibia rules out ending rand pegThe nation’s economy has partly been dragged down by anaemic growth and power shortages in SA
Read more »
Newsdeck: Namibia Commits to Rand Peg as Economy Limps Out of SlumpNamibia is ruling out dropping its currency peg with the South African rand “unless something very drastic happens,” given the close trade links to its larger neighbor and the drive by the world’s biggest producer of marine diamonds to recover from a two-year recession.
Read more »
Algerian leader Bouteflika ends 20-year rule after mass protestsState TV later showed a frail-looking Bouteflika, dressed in a traditional winter robe, handing his resignation letter to the head of a constitutional council.
Read more »
SA poultry industry backs Namibia against dumping of chicken from BrazilSouthern Africa is apparently now in the crosshairs of exporters looking for markets for their unwanted byproducts.
Read more »
Rand gains on slow US wage growth, stocks upAt 1530 GMT the rand was 0.32% firmer at 14.0675 per dollar from 14.1125 on Thursday.
Read more »
Rand on track for best week since JanuaryThe currency was also supported by Eskom’s assurance that electricity supply disruptions would be limited during the winter months
Read more »
Rand on track for best week since JanuaryThe currency was also supported by Eskom’s assurance that electricity supply disruptions would be limited during the winter months
Read more »
Rand set for 3% weekly gain after Moody's review delayThe main boost for South African assets this week came from Moody’s keeping the country’s sovereign rating in investment grade, after it let a scheduled rating review date last week pass without any rating action.
Read more »
Rand a little firmer after tumultuous weekThe rand is on track for its best week in three months, boosted by a reprieve from Moody's Investors Service
Read more »
East Rand principal suspended for allegedly impregnating 2 of his pupils
Read more »