Namibia’s dependence on importedgoods increases inflation rates

Martin Endjala Namibia’s reliance on imported goods is cited as one of the main contributing factors to the country’s high inflation rate, and its citizens feeling the impact of increasing inflation rates globally. This concern was raised by the Bank of Namibia Governor Johannes !Gawaxab yesterday in Windhoek, during the announcement of the repo rate increase by 25 basis points to 7.25 percent, with immediate effect. This is the second time this year that the repo rate has been hiked by the central bank’s Monetary Policy Committee, following a comprehensive review of the global, regional and domestic economic development. The…