The rating agency, Moody’s, has Namibia downgraded to junk status and this brings the country in line with other African countries whose economy is equivalent to that of junk status.
Namibia’s increasing debt burden has contributed to the downgrade.
Economists agree that after the fall of raw material prices, African countries struggle to keep their head above water. However, nothing is reported about the African culture of nepotism, fraud, bribery and simple poor governance.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
