Schlettwein optimistic after Fitch downgrade

FOLLOWING a Fitch downgrade this week, Finance Minister, Calle Schlettwein has said that government is committed to a growth-friendly fiscal consolidation and the package of structural policy reforms to support domestic economic activity, improve business confidence, policy certainty and bring about recovery of the domestic economy and sustainable public debt management. The ratings agency downgraded Namibia’s long-term non-Rand foreign currency bonds from BB+ sub-investment grade assigned in 2017 with a negative outlook, to a BB sub-investment grade, with a stable outlook.