Falling inflation in Namibia has cushioned the southwest African nation’s exports from the effect of a strong currency, central bank governor, Ipumbu Shiimi, said on Thursday.
Mr. Shiimi also told Reuters he expected “no dramatic increase” next year in annual inflation, which stood at a five-year low of 3.9 percent in October, despite the expected food and oil prices.
“Because of the benign inflationary environment, the relative rise in export prices is limited to 1 to 6 percent,” he said.
“Exports did suffer, but not in the region of a 30 percent drop that could be expected on the basis of the exchange rate. We are a bit worried, but it is not a life and death situation,” he added.Source:http://234next.com/csp/cms/sites/Next/Money/5643949-147/namibia_central_bank_sees_benign_2011.csp
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