Fotostrecke: Fotograf Werner Niebel,           reweni kalender

Lela 565b33d72455e1.37555815Namibia on course with Paris Agreement

New Era, September 1, 2017, Albertina Nakale

Namibia is already busy implementing the Paris Agreement based on the country’s Intended Nationally Determined Contribution (INDC) document, which was approved by Cabinet in 2015 and outlines the intended actions to mitigate and adapt to climate change.

President Hage Geingob, signed the Paris Agreement on behalf of Namibia at the U.N head Quarters in New York on 22 April 2016. Some 171 UN members signed the agreement on the same day.

Namibia ratified the Paris Agreement on Climate Change on 21st September 2016. This was said by Environment and Tourism Minister Hon Pohamba Shifeta yesterday when he officially launched two climate change projects.

These are the Climate Resilient Agriculture in three of the Vulnerable Extreme northern crop-growing regions Project (CRAVE) and Empower to Adapt: creating Climate-Change Resilient Livelihoods through Community-Based Natural Resource Management in Namibia Project (EDA-CBNRM).

According to him, these projects are an integral part of national efforts to mitigate the impacts of climate change and eradicate poverty in the country. He noted Namibians need to take pride in the fact that Namibia was among the first group of countries to ratify the Paris agreement.

Shifeta said the INDC contains many targets, which are deliberately ambitious as a signal of Namibia’s seriousness to tackle climate change and to mobilize the necessary resources for climate change investments, part of which he says are the launched projects. He explained the INDC targets the increasing of the share of renewables in electricity production to 70 percent by 2030 and reducing greenhouse gas emissions by 89 percent by 2030; reducing the deforestation rate by 75 percent; extending conservation agriculture to 80,000 hectares by 2030; and restoring 15 million hectares of grassland by 2030.


Government, Moody’s at loggerheads over rating

August 14, 2017, by , New Era, Desie Heita

Finance Minister Calle Schlettwein 1024x787Windhoek-Moody’s Rating Agency has downgraded Namibia’s credit rating, saying the country’s financial standing suggests it would be unable to raise enough funds to pay its debts in coming years.

The United States of America-based rating agency downgraded Namibia’s long term senior unsecured bond and issuer rating to Ba1 from Baa3, saying the country appears unable to honour its debts, and has not put up sufficient policy measures to contain debt and thus looks unable to raise sufficient revenue to fund government expenditures.

Finance Minister Calle Schlettwein, however, expressed serious concern at the sudden downgrade, saying it “essentially put Namibia’s international debt issuance in the category of junk status, an assessment we do not concur with”. He points out that one crucial element that Moody’s ignored is that the country’s foreign exchange reserves increased to 5.3 months of import cover in the second quarter of 2017. “This is a crucial variable in credit worthiness that cannot be ignored. It is puzzling that at a time when Namibia’s import coverage has increased, Moody’s decides to downgrade our credit ratings.”

Click here to read the Ministry of Finance's Media Statement of Friday, 11 August 2017

Moody's Downgrades Namibia's rating to Ba1, maintains negative outlook



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