By: Nghiinomenwa-vali Erastus
Depending on the outcomes of the lined-up switch auctions in the next six months, the government would need to repay the N$2.3 billion borrowed through the GC24 internal registered bond over the years.
Data from the Bank of Namibia, which borrows on behalf of the government, indicates that the N$2.3 billion is the outstanding amount from the GC24 after the central bank switch auction on 21 February 2024.
The switch auction aimed to encourage investors to reallocate their funds to the other 11 bonds. This marked the fourth switch auction for the GC24 since last year, as the central bank endeavours to incentivise investors to transition or diversify their investments to other long-term bonds.
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