05
Sep
CHAMWE KAIRA The stock of international reserves rose by 5.5% to N$60.8 billion at the end of July, the Bank of Namibia announced. The increase in international reserves was on the back of higher SACU receipts, as well as Customer Foreign Currency (CFC) placements. This level of foreign reserves translated into 4.1 months of import cover, exceeding the international benchmark of 3 months. Notably, the import cover, excluding imports of oil exploration and appraisal activities, stood at 4.9 months at the end of July, relative to 4.6 months recorded at the end of June. Furthermore, the banking industry liquidity position…