Namibia still stuck in ‘junk’
Fitch Ratings has affirmed Namibia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB+' with a Stable Outlook. In layman’s terms, it means the government’s creditworthiness is still regarded as junk.
Motivating its latest decision, Fitch mentions, among others, that “fiscal consolidation is advancing only slowly as the government strives to protect economic growth amid pressures to tackle high inequality and unemployment”.
Fitch first downgraded Namibia to junk in November last year.
Motivating its latest decision, Fitch mentions, among others, that “fiscal consolidation is advancing only slowly as the government strives to protect economic growth amid pressures to tackle high inequality and unemployment”.
Fitch first downgraded Namibia to junk in November last year.
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