Namibia Progressive Party Plans N$30 Billion Loan Strategy to Address National Debt

The Namibia Progressive Party has announced its intention to borrow N$30 billion from global lenders to tackle the country’s national debt if they secure presidential power. Namib Pulse says, of this amount, N$15 billion will be directed towards reducing part of the N$165.8 billion national debt, while the remaining N$22 billion is earmarked for infrastructure projects aimed at generating revenue to further pay down the debt. Penda Negonga, Co-Founder of NAPPA, stated, that the N$30 billion would be borrowed from global money lenders through loans and bondsand they will ask the Government Institutions Pension Fund to provide a guarantee to put the money lenders at ease.