Bank of Namibia Confirms Financial Stability

The Bank of Namibia’s Financial System Stability Committee has confirmed that the domestic financial system is stable and resilient despite potential vulnerabilities. Following an assessment on October 3, the committee noted a projected decline in global GDP growth to 3.2% in 2024 due to tighter monetary conditions and inflation. Nevertheless, Namibia’s financial system has shown resilience, and the Bank is confident in its ability to manage future risks. Sandra Garises, Principal Communications Team Leader of the Bank of Namibia.