Namibia pays off N$14.3 billion Eurobond

[PODCAST]

Namibia has paid off its US$750 million (about N$14.3 billion) eurobond, the largest single debt maturity in the country’s history. The Ministry of Finance says this achievement reaffirms Namibia’s fiscal credibility, made possible through a combination of savings from a sinking fund and support from local commercial banks Standard Bank, FNB and Bank Windhoek in partnership with Absa.
However, some economists have questioned whether the repayment truly reduces government debt or simply replaces one obligation with another.
Ministry of Finance executive director Michael Humavindu tells Desert FM more.