Rédaction Africa Links 24 with Shania Lazarus
Published on 2024-03-12 17:09:58
An International Monetary Fund (IMF) team is currently in Namibia and is scheduled to meet with civil society in the country on Wednesday, March 13th. The visit comes as part of a staff monitored programme, as confirmed by Titus Ndove, the executive director of the Ministry of Finance and Public Enterprises.
The Staff Monitored Programme, commonly referred to as SMP, is an informal agreement between an IMF member country and IMF staff to closely monitor the economic programme of the member country. The aim is to provide support and guidance to ensure the country’s economic stability and growth.
The IMF delegation arrived in Namibia last week for their scheduled visit. During their previous visit in October last year, the IMF raised concerns about the excessive bureaucracy in Namibia, which they believed was a deterrent to potential investors looking to do business in the country.
Jaroslaw Wieczorek, the head of the IMF mission in Namibia, emphasized the need for the Namibian government to streamline administrative processes and create a more conducive environment for foreign investors. He highlighted that there was a perception of the economy being slightly over-regulated, with an excessive administrative burden and elevated costs of doing business.
Wieczorek’s comments echo the sentiments of many stakeholders who have been advocating for reforms to improve the business environment in Namibia. The World Bank’s Ease of Doing Business report also highlighted similar challenges faced by businesses operating in the country.
To address these concerns and create a more investor-friendly environment, the IMF team will engage with civil society representatives during their visit. This consultation with stakeholders from various sectors of society is crucial to understanding the challenges faced by different players in the economy and devising appropriate solutions.
In addition to engaging with civil society, the IMF team will also hold discussions with government officials and other relevant stakeholders to assess the progress made in implementing reforms recommended during previous visits. These discussions will focus on key areas such as regulatory reforms, investment promotion, and improving the overall business climate in Namibia.
As the IMF team continues its consultations in Namibia, it is essential for all stakeholders to actively participate and contribute their perspectives to the discussions. By working together, the government, civil society, and international partners can collaborate to address the challenges faced by the Namibian economy and pave the way for sustainable economic growth and development.
In conclusion, the IMF’s visit to Namibia signals a renewed commitment to supporting the country’s economic reforms and development efforts. By working together and implementing necessary reforms, Namibia can create a more conducive environment for investors, boost economic growth, and improve the overall well-being of its citizens.
Read the original article on The Namibian
