Determination on policy changes in response to economic and financial stability challenges, following the fallout of the Covid19 Pandemic (GN 127 of 2020).

This Determination of the Deputy Governor of the Bank of Namibia, made under the powers vested in the Bank by virtue of section 71(3) of the Banking Institutions Act, 1998, provides policy and regulatory changes amid economic challenges posed by COVID-19 pandemic in Namibia. Substantially, the Bank resolves to relax certain regulatory requirements to provide relief to banking institutions to deal with impaired loans as well as to continue lending to the real economy and stimulate economic growth. Measures concern credit policy (loan repayment moratorium, writing off of losses) and liquidity relief (minimum liquidity requirements, reduction of capital conservation buffer, new limits for exposures of borrowers) for the banking sector. The measures aim at enhancing lending to the most vulnerable economic sectors.