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Namibia downgraded by Fitch Ratings

Namibia downgraded by Fitch Ratings

Staff Reporter

FITCH Ratings has lowered its assessment of Namibia’s economic growth potential and downgraded the country’s credit rating with one point from BB+ to BB.
In its statement Fitch Ratings said subdued economic prospects amid elevated inequality and the high unemployment rate will raise significant challenges for the government’s plan to stabilise its debt by cutting back spending, particularly on high payroll costs.

The full statement is available in the link below.

https://www.fitchratings.com/site/pr/10090218

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