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#JustIn: IMF calls for public wage reform – again

Jo-Maré Duddy
Accelerating public wage reform and the reform of state-owned enterprises (SOEs) is vital for the health of the Namibian economy, the International Monetary Fund (IMF) has said.

This include introducing early retirement, the IMF said following its annual Article IV Consultation with the Namibia, which ended today.

“Implementing the authorities’ fiscal consolidation strategy is pivotal to preserve debt sustainability and protect against the volatility of SACU revenues, which represent a significant contribution to the budget,” the IMF said in a statement.

For 2024 and the medium-term, Namibia’s growth path is expected to stabilise at just below 3%.

“New mineral discoveries and the investment in green energy provide an opportunity to boost growth, employment and foster diversification. Strengthening the public-private partnership framework and addressing constraints hampering entrepreneurship, including the regulatory burden, skill mismatches, input costs, especially energy and water, and governance challenges would help the Namibian economy benefit from the investments in these emerging sectors,” according to the IMF.

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H.E. Dr Nangolo Mbumba, President of the Republic of Namibia says they will continue to pursue the second struggle of Namibia Zambian President, Hakainde Hichilema said one road will be named after the late president in Lusaka and the other road will be named after the founding president of Namibia The late President Hage Geingob’s casket was stationed at the Eternal Flame before he was taken to his final resting place The casket will of the late president was lowered with a 21 gun salute Accoutrements will be handed over to the former first lady of Monica Geingos An official luncheon by invitation is scheduled to take place at 14:00 at the State House The foreign dignataries are currently paying their last tribute to the former first lady, Monica Geingos Heroes Acre will be closed to the public, the National Council will announce once it is reopenedSix Nations: Scotland 30 vs 21 England | Ireland 31 vs 7 Wales Premier League: Arsenal 4 vs 1 Newcastle | Bournemouth 0 vs 1 Manchester City | Brighton 1 vs 1 Everton | Crystal Palace 3 vs 0 Burnley | Aston Villa 4 vs 2 Forest | Manchester United 1 vs 2 Fulham | Chelsea 0 vs 0 Tottenham Hotspur LaLiga: Cadiz 2 vs 2 Celta Vigo | Almería 2 vs 2 Atletico Madrid | Deportivo Alaves 1 vs 1 Mallorca | Barcelona 4 vs 0 Getafe | Granada 0 vs 0 Valencia | Real Sociedad 1 vs 3 Villarreal SerieA: Juventus 3 vs 2 Frosinone | Genoa 2 vs 0 Udinese | Salernitana 0 vs 2 Monza | Sassuolo 2 vs 3 Empoli | Bologna 2 vs 0 Hellas Verona | Torino 0 vs 2 SS Lazio European Championships Qualifying: Ipswich Town 3 vs 1 Birmingham City | Watford 1 vs 2 Huddersfield Town | Sunderland 1 vs 2 Swansea City | Blackburn Rovers 1 vs 1 Norwich City | Southampton 1 vs 2 Millwall FC | Cardiff City 2 vs 1 Stoke City | Queens Park Rangers 2 vs 1 Rotherham United | Sheffield Wednesday 2 vs 1 Bristol City | Middlesbrough 0 vs 2 Plymouth Argyle | Hull City 1 vs 1 West Bromwich Albion | Leeds United 3 vs 1 Leicester City | Coventry City 0 vs 3 Preston North End English Championship: Ipswich Town 3 vs 1 Birmingham City | Watford 1 vs 2 Huddersfield Town | Sunderland 1 vs 2 Swansea City | Blackburn Rovers 1 vs 1 Norwich City | Southampton 1 vs 2 Millwall FC | Cardiff City 2 vs 1 Stoke City | Queens Park Rangers 2 vs 1 Rotherham United | Sheffield Wednesday 2 vs 1 Bristol City | Middlesbrough 0 vs 2 Plymouth Argyle | Hull City 1 vs 1 West Bromwich Albion | Leeds United 3 vs 1 Leicester City | Coventry City 0 vs 3 Preston North End Katima Mulilo: 22° | 41° Rundu: 22° | 40° Eenhana: 22° | 37° Oshakati: 23° | 36° Ruacana: 19° | 36° Tsumeb: 24° | 37° Otjiwarongo: 22° | 34° Omaruru: 21° | 36° Windhoek: 22° | 32° Gobabis: 22° | 35° Henties Bay: 16° | 19° Wind speed: 21km/h, Wind direction: S, Low tide: 10:10, High tide: 04:15, Low Tide: 22:13, High tide: 16:26 Swakopmund: 16° | 17° Wind speed: 25km/h, Wind direction: SW, Low tide: 10:08, High tide: 04:13, Low Tide: 22:11, High tide: 16:24 Walvis Bay: 16° | 21° Wind speed: 30km/h, Wind direction: SW, Low tide: 10:08, High tide: 04:12, Low Tide: 22:11, High tide: 16:23 Rehoboth: 20° | 34° Mariental: 20° | 36° Keetmanshoop: 19° | 35° Aranos: 20° | 36° Lüderitz: 14° | 30° Ariamsvlei: 16° | 34° Oranjemund: 13° | 26° Luanda: 26° | 28° Gaborone: 21° | 39° Lubumbashi: 18° | 26° Mbabane: 14° | 20° Maseru: 10° | 32° Antananarivo: 15° | 27° Lilongwe: 18° | 30° Maputo: 21° | 26° Windhoek: 22° | 32° Cape Town: 16° | 25° Durban: 18° | 22° Johannesburg: 19° | 32° Dar es Salaam: 27° | 33° Lusaka: 18° | 34° Harare: 18° | 33° Currency: GBP to NAD 24.4 | EUR to NAD 20.87 | CNY to NAD 2.68 | USD to NAD 19.28 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.35 | EGP to NAD 0.62 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.83 | ZWL to NAD 0.04 | BRL to NAD 3.86 | RUB to NAD 0.21 | INR to NAD 0.23 | USD to DZD 134.44 | USD to AOA 828.51 | USD to BWP 13.77 | USD to EGP 30.85 | USD to KES 144.98 | USD to NGN 1488.4 | USD to ZAR 19.29 | USD to ZMW 22.95 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 74213.39 Up +0.14% | Namibian Stock Exchange (NSX) Overall Index 1551.37 Up +0.01% | Casablanca Stock Exchange (CSE) MASI 13083.17 Up +0.74% | Egyptian Exchange (EGX) 30 Index 29309.73 Up +0.06% | Botswana Stock Exchange (BSE) DCI 9001.84 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 035.38/OZ UP +0.52% | Copper US$ 3.86/lb DOWN -0.0073 | Zinc US$ 2 432.00/T UP 0.13% | Brent Crude Oil US$ 81.72/BBP DOWN -0.0194 | Platinum US$ 900.85/OZ DOWN -0.0011 Sport results: H.E. Dr Nangolo Mbumba, President of the Republic of Namibia says they will continue to pursue the second struggle of Namibia Zambian President, Hakainde Hichilema said one road will be named after the late president in Lusaka and the other road will be named after the founding president of Namibia The late President Hage Geingob’s casket was stationed at the Eternal Flame before he was taken to his final resting place The casket will of the late president was lowered with a 21 gun salute Accoutrements will be handed over to the former first lady of Monica Geingos An official luncheon by invitation is scheduled to take place at 14:00 at the State House The foreign dignataries are currently paying their last tribute to the former first lady, Monica Geingos Heroes Acre will be closed to the public, the National Council will announce once it is reopenedSix Nations: Scotland 30 vs 21 England | Ireland 31 vs 7 Wales Premier League: Arsenal 4 vs 1 Newcastle | Bournemouth 0 vs 1 Manchester City | Brighton 1 vs 1 Everton | Crystal Palace 3 vs 0 Burnley | Aston Villa 4 vs 2 Forest | Manchester United 1 vs 2 Fulham | Chelsea 0 vs 0 Tottenham Hotspur LaLiga: Cadiz 2 vs 2 Celta Vigo | Almería 2 vs 2 Atletico Madrid | Deportivo Alaves 1 vs 1 Mallorca | Barcelona 4 vs 0 Getafe | Granada 0 vs 0 Valencia | Real Sociedad 1 vs 3 Villarreal SerieA: Juventus 3 vs 2 Frosinone | Genoa 2 vs 0 Udinese | Salernitana 0 vs 2 Monza | Sassuolo 2 vs 3 Empoli | Bologna 2 vs 0 Hellas Verona | Torino 0 vs 2 SS Lazio European Championships Qualifying: Ipswich Town 3 vs 1 Birmingham City | Watford 1 vs 2 Huddersfield Town | Sunderland 1 vs 2 Swansea City | Blackburn Rovers 1 vs 1 Norwich City | Southampton 1 vs 2 Millwall FC | Cardiff City 2 vs 1 Stoke City | Queens Park Rangers 2 vs 1 Rotherham United | Sheffield Wednesday 2 vs 1 Bristol City | Middlesbrough 0 vs 2 Plymouth Argyle | Hull City 1 vs 1 West Bromwich Albion | Leeds United 3 vs 1 Leicester City | Coventry City 0 vs 3 Preston North End English Championship: Ipswich Town 3 vs 1 Birmingham City | Watford 1 vs 2 Huddersfield Town | Sunderland 1 vs 2 Swansea City | Blackburn Rovers 1 vs 1 Norwich City | Southampton 1 vs 2 Millwall FC | Cardiff City 2 vs 1 Stoke City | Queens Park Rangers 2 vs 1 Rotherham United | Sheffield Wednesday 2 vs 1 Bristol City | Middlesbrough 0 vs 2 Plymouth Argyle | Hull City 1 vs 1 West Bromwich Albion | Leeds United 3 vs 1 Leicester City | Coventry City 0 vs 3 Preston North End Weather: Katima Mulilo: 22° | 41° Rundu: 22° | 40° Eenhana: 22° | 37° Oshakati: 23° | 36° Ruacana: 19° | 36° Tsumeb: 24° | 37° Otjiwarongo: 22° | 34° Omaruru: 21° | 36° Windhoek: 22° | 32° Gobabis: 22° | 35° Henties Bay: 16° | 19° Wind speed: 21km/h, Wind direction: S, Low tide: 10:10, High tide: 04:15, Low Tide: 22:13, High tide: 16:26 Swakopmund: 16° | 17° Wind speed: 25km/h, Wind direction: SW, Low tide: 10:08, High tide: 04:13, Low Tide: 22:11, High tide: 16:24 Walvis Bay: 16° | 21° Wind speed: 30km/h, Wind direction: SW, Low tide: 10:08, High tide: 04:12, Low Tide: 22:11, High tide: 16:23 Rehoboth: 20° | 34° Mariental: 20° | 36° Keetmanshoop: 19° | 35° Aranos: 20° | 36° Lüderitz: 14° | 30° Ariamsvlei: 16° | 34° Oranjemund: 13° | 26° Luanda: 26° | 28° Gaborone: 21° | 39° Lubumbashi: 18° | 26° Mbabane: 14° | 20° Maseru: 10° | 32° Antananarivo: 15° | 27° Lilongwe: 18° | 30° Maputo: 21° | 26° Windhoek: 22° | 32° Cape Town: 16° | 25° Durban: 18° | 22° Johannesburg: 19° | 32° Dar es Salaam: 27° | 33° Lusaka: 18° | 34° Harare: 18° | 33° Economic Indicators: Currency: GBP to NAD 24.4 | EUR to NAD 20.87 | CNY to NAD 2.68 | USD to NAD 19.28 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.35 | EGP to NAD 0.62 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.83 | ZWL to NAD 0.04 | BRL to NAD 3.86 | RUB to NAD 0.21 | INR to NAD 0.23 | USD to DZD 134.44 | USD to AOA 828.51 | USD to BWP 13.77 | USD to EGP 30.85 | USD to KES 144.98 | USD to NGN 1488.4 | USD to ZAR 19.29 | USD to ZMW 22.95 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 74213.39 Up +0.14% | Namibian Stock Exchange (NSX) Overall Index 1551.37 Up +0.01% | Casablanca Stock Exchange (CSE) MASI 13083.17 Up +0.74% | Egyptian Exchange (EGX) 30 Index 29309.73 Up +0.06% | Botswana Stock Exchange (BSE) DCI 9001.84 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 035.38/OZ UP +0.52% | Copper US$ 3.86/lb DOWN -0.0073 | Zinc US$ 2 432.00/T UP 0.13% | Brent Crude Oil US$ 81.72/BBP DOWN -0.0194 | Platinum US$ 900.85/OZ DOWN -0.0011