Namibia's international reserve stock increases

February 1, 2018, 5:37pm

Namibia’s foreign reserves rose from a lower level of N$28.5 billion to N$29.7 billion at the end of December 2017, Bank of Namibia revealed yesterday.

The increase in the level of reserves was mainly due to SACU inflows and the second disbursement of African Development Bank loan during the review period.

The annual growth in credit extended to the private sector rose to 5.1 percent at the end of December 2017 from 4.7 percent at the end of November 2017.

The improved growth in Private Sector Credit Extension (PSCE) was mainly reflected in the higher growth observed in credit extended to the business sector, specifically in the categories; overdraft credit and other loans and advances which rose at the end of December 2017.

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