Namibia cuts debt-to-GDP ratio amid economic slowdown

WINDHOEK, June 28 (Xinhua) -- Namibia has reduced its central government debt as a percentage of gross domestic product (GDP) to 66 percent at the end of March 2024, down from 67.2 percent a year earlier, despite a slowdown in economic growth, the central bank said in a statement Friday.

In nominal terms, government debt increased 8 percent to 153.8 billion Namibian dollars (about 8.44 billion U.S. dollars), sai