Namibia unlikely to default on foreign debt in medium-term- Klein

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A local economist says Namibia is unlikely to default on its foreign debts in the medium-term, although there is a need to aggressively stimulate the economy to curb the impact of low taxes and rising inflation on its fiscus.

Namibia's persistent droughts and sluggish economic growth has caused a surge in debt due to widening deficits to a record N$128 billion which is 69% of the Gross Domestic Product (GDP) in the 2021/22 financial year.