Bank of Namibia Engages Diplomatic Community on Economic Outlook and Reform Agenda

Bank of Namibia Engages Diplomatic Community on Economic Outlook and Reform Agenda. The Bank of Namibia recently convened its annual engagement with heads of mission and representatives from multilateral institutions, reaffirming its commitment to transparency, dialogue, and macroeconomic stability. The session, chaired by Governor Johannes !Gawaxab, provided a high-level platform for discussing the country’s financial outlook, policy reforms, and strategic priorities.

Governor !Gawaxab opened the meeting by addressing the evolving global context, noting that the world is undergoing significant transformation due to shifting geopolitical forces, trade tensions, and rapid technological advancement. These trends, he emphasized, are challenging long-standing principles of globalisation and multilateral cooperation, and require institutions like the Bank to adapt with agility and strategic insight.

Key topics discussed included the adequacy of international reserves under Namibia’s fixed exchange rate regime, the growing importance of green finance, and projections for Southern African Customs Union (SACU) revenues. Attendees also examined global funding patterns and their potential implications for Namibia.

The Governor underscored the central bank’s reform agenda aimed at modernizing the country’s financial infrastructure, enhancing policy effectiveness, and fostering a resilient economic system. He reiterated the Bank’s commitment to preserving monetary and financial stability while remaining responsive to emerging risks at both global and regional levels.

Additional discussions highlighted the relationship between reserve levels, currency in circulation, and broader monetary dynamics. The session provided an opportunity for diplomatic representatives and multilateral institutions to offer insights, ask questions, and align perspectives on Namibia’s economic trajectory.