Publication:
Analysis and Options for Namibia's Medium-Term Debt Strategy

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dc.contributor.authorWorld Bank
dc.date.accessioned2013-10-03T19:52:27Z
dc.date.available2013-10-03T19:52:27Z
dc.date.issued2013-06
dc.description.abstractSince gaining its independence 23 years ago, Namibia has established an enviable track record of political stability, prudent macroeconomic policies, moderate growth, poverty reduction, and natural resource conservation. The country has achieved these gains while facing constraints imposed by geography, legacies of apartheid and colonialism, and the challenges of constructing a national government. Daunting challenges remain, however. Namibia suffers from chronic high unemployment, the ravages of HIV/AIDS, and one of the world most skewed distributions of income. The structure of the economy has remained fundamentally unchanged since Independence: minerals and metals make up the majority of exports; the public sector remains the largest employer; and there has been little investment in labor-intensive manufacturing, which in many countries has absorbed low-skilled labor exiting traditional agriculture. This report uses the Medium-Term Debt Management Strategy (MTDS) framework developed by the International Monetary Fund (IMF) and the World Bank to analyze options facing the GRN as it prepares the new Sovereign Debt Management Strategy (SDMS). This framework emphasizes the explicit analysis of relative costs and risks in a debt management strategy, the linkages between the debt strategy and other macroeconomic policies, and the strategy's consistency with debt sustainability. The report opens with a review of the GRN's current debt management strategy, the sources of financing available to the government, and the macroeconomic environment. The report then applies the MTDS analytical tool to analyze costs and risks of alternative debt management strategies that were developed by MOF participants in the November 2012 capacity-building exercise. It also examines domestic debt market development and contingent liabilities arising from government guarantees, two issues of special concern to the GRN. Finally, it discusses institutional arrangements and implementation issues.en
dc.identifierhttp://documents.worldbank.org/curated/en/2013/06/17931552/analysis-options-namibias-medium-term-debt-strategy
dc.identifier.doi10.1596/16074
dc.identifier.urihttps://hdl.handle.net/10986/16074
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectANNUAL BORROWING PLAN
dc.subjectARREARS
dc.subjectASSET MANAGEMENT
dc.subjectAUCTIONS
dc.subjectBALANCE OF PAYMENTS
dc.subjectBASIS POINTS
dc.subjectBENCHMARK BONDS
dc.subjectBENEFICIARIES
dc.subjectBENEFICIARY
dc.subjectBOND
dc.subjectBOND ISSUE
dc.subjectBOND ISSUES
dc.subjectBOND MARKET CAPITALIZATION
dc.subjectBOND MARKET TRADING
dc.subjectBOND MARKETS
dc.subjectBORROWER
dc.subjectBORROWING COSTS
dc.subjectBORROWING STRATEGIES
dc.subjectBROKERS
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL INVESTMENTS
dc.subjectCAPITAL MOBILITY
dc.subjectCASH FLOW
dc.subjectCENTRAL GOVERNMENT DEBT
dc.subjectCENTRAL SECURITIES DEPOSITORY
dc.subjectCOLLECTION PROCESS
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMERCIAL TERMS
dc.subjectCOMMODITY PRICES
dc.subjectCOMPOSITION OF DEBT
dc.subjectCONTINGENT LIABILITIES
dc.subjectCONTINGENT LIABILITY
dc.subjectCORPORATE BONDS
dc.subjectCOUPON
dc.subjectCOUPON RATE
dc.subjectCREDIT RISK
dc.subjectCREDIT RISK EVALUATION
dc.subjectCREDIT RISK EXPOSURE
dc.subjectCREDITORS
dc.subjectCURRENCY
dc.subjectCURRENCY DEPRECIATION
dc.subjectCURRENCY RISK
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectDEBT
dc.subjectDEBT CATEGORY
dc.subjectDEBT COMPOSITION
dc.subjectDEBT DATA
dc.subjectDEBT DATABASE
dc.subjectDEBT LEVEL
dc.subjectDEBT MANAGEMENT
dc.subjectDEBT MARKET DEVELOPMENT
dc.subjectDEBT OPERATIONS
dc.subjectDEBT RATIO
dc.subjectDEBT SERVICE
dc.subjectDEBT STOCK
dc.subjectDEFAULT RISKS
dc.subjectDEFAULTS
dc.subjectDEVELOPMENT BANK
dc.subjectDEVELOPMENT FINANCE
dc.subjectDISBURSEMENT
dc.subjectDOMESTIC BOND
dc.subjectDOMESTIC BOND MARKET
dc.subjectDOMESTIC BONDS
dc.subjectDOMESTIC BORROWING
dc.subjectDOMESTIC CAPITAL
dc.subjectDOMESTIC CAPITAL MARKETS
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC DEBT MARKET
dc.subjectDOMESTIC DEBT SECURITIES
dc.subjectDOMESTIC MARKET
dc.subjectEMERGING ECONOMIES
dc.subjectEUROBOND
dc.subjectEXCESS LIQUIDITY
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURE
dc.subjectEXTERNAL BORROWING
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL FUNDING
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL STATEMENT
dc.subjectFINANCIAL STATEMENTS
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFIXED INTEREST
dc.subjectFIXED INTEREST RATE
dc.subjectFIXED INTEREST RATES
dc.subjectFLOATING RATE
dc.subjectFLOATING RATE DEBT
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN CURRENCY RISK
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE DEBT
dc.subjectFOREIGN EXCHANGE RISK
dc.subjectFOREIGN LOANS
dc.subjectFORWARD CURVE
dc.subjectFORWARD RATES
dc.subjectGLOBAL ECONOMY
dc.subjectGOVERNMENT BOND
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT BORROWING
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT DEBT MARKET
dc.subjectGOVERNMENT DEFICIT
dc.subjectGOVERNMENT EXPENDITURES
dc.subjectGOVERNMENT GUARANTEE
dc.subjectGOVERNMENT GUARANTEES
dc.subjectGOVERNMENT REVENUE
dc.subjectGOVERNMENT REVENUES
dc.subjectGOVERNMENT SECURITIES
dc.subjectGRACE PERIOD
dc.subjectGRACE PERIODS
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGUARANTEE FEE
dc.subjectGUARANTEE FEES
dc.subjectHOUSEHOLD INCOME
dc.subjectINCOME INEQUALITY
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFRASTRUCTURE INVESTMENTS
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINTEREST PAYMENTS
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE RISK
dc.subjectINTEREST RATE RISKS
dc.subjectINTERNATIONAL BOND
dc.subjectINTERNATIONAL BOND MARKETS
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL CAPITAL MARKETS
dc.subjectINTERNATIONAL FINANCIAL MARKETS
dc.subjectINTERNATIONAL MARKET
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL SETTLEMENTS
dc.subjectISSUANCE
dc.subjectISSUANCES
dc.subjectISSUERS OF DEBT
dc.subjectLEGAL FRAMEWORK
dc.subjectLENDERS
dc.subjectLEVEL OF RISK
dc.subjectLEVY
dc.subjectLIABILITY
dc.subjectLIQUID BOND MARKET
dc.subjectLIQUIDITY PREMIUM
dc.subjectLOAN
dc.subjectLOAN GUARANTEES
dc.subjectLOAN RATES
dc.subjectLOCAL CURRENCY
dc.subjectLOCAL MARKET
dc.subjectLONG TERM DEBT
dc.subjectLONG-TERM INSTRUMENTS
dc.subjectLONG-TERM MATURITIES
dc.subjectMACROECONOMIC ENVIRONMENT
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC RISKS
dc.subjectMACROECONOMIC STABILITY
dc.subjectMARKET CONSTRAINTS
dc.subjectMATURITIES
dc.subjectMATURITY
dc.subjectMEDIUM TERM NOTE
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICY
dc.subjectNATIONAL TREASURY
dc.subjectOUTSTANDING DOMESTIC DEBT
dc.subjectOUTSTANDING LOAN
dc.subjectOUTSTANDING LOANS
dc.subjectPARTICULAR DEBT
dc.subjectPENSION
dc.subjectPENSION FUND
dc.subjectPENSION FUNDS
dc.subjectPOLITICAL STABILITY
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO RISK
dc.subjectPRIVATE INVESTMENT
dc.subjectPROBABILITY OF DEFAULT
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEBT MANAGEMENT
dc.subjectPUBLIC DEBT STOCK
dc.subjectPUBLIC FINANCE
dc.subjectREPAYMENT
dc.subjectREPAYMENTS
dc.subjectRESERVES
dc.subjectRISK ASSESSMENTS
dc.subjectRISK AVERSION
dc.subjectRISK EXPOSURE
dc.subjectRISK FACTORS
dc.subjectRISK MANAGEMENT
dc.subjectRISK OF LOAN
dc.subjectSECONDARY BOND MARKET
dc.subjectSECONDARY MARKET
dc.subjectSECURITIES
dc.subjectSECURITIES MARKET
dc.subjectSOVEREIGN BOND
dc.subjectSOVEREIGN DEBT
dc.subjectSTOCK EXCHANGE
dc.subjectSUB-NATIONAL FINANCE
dc.subjectT-BILL
dc.subjectT-BILLS
dc.subjectT-BONDS
dc.subjectTAX
dc.subjectTOTAL DEBT
dc.subjectTRANSACTION
dc.subjectTRANSPARENCY
dc.subjectTREASURIES
dc.subjectTREASURY
dc.subjectTREASURY BILL
dc.subjectTREASURY BILLS
dc.subjectTREASURY BONDS
dc.subjectTRUSTEES
dc.subjectTURNOVER
dc.subjectUNSECURED DEBTS
dc.subjectYIELD CURVE
dc.titleAnalysis and Options for Namibia's Medium-Term Debt Strategyen
dspace.entity.typePublication
okr.date.disclosure2013-06-27
okr.date.doiregistration2025-05-07T10:13:26.707882Z
okr.doctypeEconomic & Sector Work::Other Poverty Study
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2013/06/17931552/analysis-options-namibias-medium-term-debt-strategy
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid520351468061145022
okr.identifier.externaldocumentum000333037_20130627102918
okr.identifier.internaldocumentum17931552
okr.identifier.report78485
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/06/27/000333037_20130627102918/Rendered/PDF/784850ESW0P1330Strategy0Report.2013.pdfen
okr.region.administrativeAfrica
okr.region.countryNamibia
okr.sectorPublic Administration, Law, and Justice :: Central government administration
okr.themeEconomic management :: Debt management and fiscal sustainability
okr.themePublic sector governance :: Public expenditure, financial management and procurement
okr.themeFinancial and private sector development :: State enterprise/bank restructuring and privatization
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicBanks and Banking Reform
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.unitAFT: PREM 1 (AFTP1)
okr.volume1 of 1
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