World Bank formula does not include past injustices: Geingob

Contributed by NAMPA.

WINDHOEK, 23 OCT (NAMPA) – The classification of Namibia as an upper middle income country does not take into consideration past injustices and makes access to affordable debt financing and grants difficult, President Hage Geingob has said.
Speaking at the United Nations Conference on Trade and Development (UNCTAD) in Geneva, Switzerland on Tuesday, Geingob said the World Bank formula takes Namibia’s Gross Domestic Product and divides it by its small population, thereby deriving a high per capita inco ...