By: Staff Writer

 

Namibia’s government debt rose to N$123.51 billion by the end of September, an increase of N$2.04 billion by October.

Analysts at Simonis Storm Securities (SSS) attributed most of the growth to fixed-rate bonds (GCs), which accounted for 63% of the rise, with N$1.27 billion issued in GCs.

Inflation-linked bonds contributed a smaller portion, just 4%, amounting to N$80 million.

“The Bank of Namibia exceeded its borrowing plan, issuing N$745 million in government bonds, likely to cover financial obligations for October,” said the SSS analysts.

Treasury bills also saw a net issuance of N$685 million, with higher issuance in the 182-day and 273-day bills compared to maturing debt.