{"id":9823,"date":"2022-01-19T12:09:23","date_gmt":"2022-01-19T12:09:23","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade"},"modified":"2022-01-19T13:07:23","modified_gmt":"2022-01-19T13:07:23","slug":"bon-brushes-off-governors-d-grade","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade","title":{"rendered":"BoN brushes off governor\u2019s D+ grade"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>The Bank of Namibia on Monday scoffed at the unflattering grade its governor, Johannes !Gawaxab received in the latest Global Finance Central Banker\u2019s Report.<\/p>\n

\u201cInconsistent\u201d and \u201cfundamentally flawed\u201d were two of the terms BoN used on Monday to respond to the D+ rating assigned to !Gawaxab.<\/p>\n

As a corporate finance magazine, Global Finance, with input from analysts, economists and financial industry sources, graded the world\u2019s leading central bankers on a scale of A to F, with A being the highest grade and F the lowest.<\/p>\n

\u201cAcknowledging that these ratings are computed with input from analysts, economists, and other subjective sources, the bank has noted with grave concern the inconsistency in the rating and subsequent reports stemming from the subjectivity of the interpretations of the ratings. These reports and the conclusions thereof appear fundamentally flawed.<\/p>\n

For example, an attempt to correlate the actions of the central bank and the performance of the governor, to the overall macroeconomic conditions in the country is inaccurate and highly misleading as the bank is restricted to its role of ensuring monetary and financial stability,\u201d read a statement from BoN spokesperson, Kazembire Zemburuka.<\/p>\n

The central bank spokesperson further cited \u201ccommon cause\u201d that Namibia\u2019s macroeconomic stability was already severely tested during the two years before the Covid-19 pandemic.<\/p>\n

\u201cDuring such difficult economic times, confidence tends to be affected negatively. Notwithstanding the unprecedented shocks on the economy and financial institutions, Namibia has emerged relatively resilient thanks to the prompt measures undertaken by key stakeholders, including the Bank of Namibia. These measures were taken to maintain credit flow and to ensure that the domestic market was liquid – conditions essential in averting a crisis and a deeper recession,\u201d Zemburuka added.<\/p>\n

He continued that the deterioration of general confidence induced by the pandemic continued to undermine the effectiveness of central banks\u2019 measures amid already-low credit uptake, which he said further negatively affected consumption and investment, which are key elements for economic recovery.<\/p>\n

Said Zemburuka: \u201cNamibia\u2019s inflation and policy rates are at historic lows, and we continue to support individual households and businesses to weather the pandemic-induced storm. We have a stable, modern, and sound financial system despite serious challenges introduced by Covid-19; banks remain profitable, well capitalised, payments and settlements continue uninterruptedly and so does credit provisioning. We continue to work closely with government, private sector agencies to ensure economic recovery and sustainable economic development going forward.\u201d<\/p>\n

Zemburuka, therefore, remained steadfast that the magazine rating does not invalidate the significant contributions of the monetary authority during the past 19 months. He pointed out that decisions taken by the central bank have effectively stabilised the domestic financial system and provided a solid foundation for economic agents and authorities, to build on, in continuous efforts to recover the economy.<\/p>\n

\u201cUltimately, the bank is accountable for its actions to the Namibian people. In this regard, the bank\u2019s actions are guided by data, economic conditions, and monetary arrangement and not by opinions and wish lists. The record speaks for itself. For this reason, the bank wishes not to dwell on the ratings nor attach weight thereof, as they appear to lean more towards the subjective side of the spectrum,\u201d Zemburuka stated.<\/p>\n

Other central bank heads in the southern African region performed better than !Gawaxab, with Botswana\u2019s Moses Pelaelo scoring a B+, Angola\u2019s Jos\u00e9 de Lima Massano was assigned a B-, Harvesh Kumar Seegolam from Mauritius scored a B while Henri Rabarijohn from Madagascar was also rated a D+.<\/p>\n

According to Global Finance, the ratings were based on a series of objective and subjective metrics, including the appropriate implementation of monetary policy for the economic conditions of each country. Judgments were based on performance from 1 July 2020 to 30 June 2021 for governors who held office for at least one year in order to receive a letter grade.<\/p>\n

\u201cWe apply an algorithm to increase the cohesion of the grades between the different geographical areas, with 100 signifying perfection. The proprietary algorithm includes criteria\u2014such as monetary policy, supervision of banks and the financial system, asset purchase and bond sale programs, accuracy of forecasts, quality of guidance, transparency, independence from political influence, success in meeting specific mandates (which differ from country to country), and reputation at home and internationally\u2014weighted for relative importance,\u201d stated Global Finance.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. The Bank of Namibia on Monday scoffed at the unflattering grade its governor, Johannes !Gawaxab received in the latest Global Finance Central Banker\u2019s Report. \u201cInconsistent\u201d and \u201cfundamentally flawed\u201d were two of the terms BoN used on Monday to respond to the D+ rating assigned to !Gawaxab. As a corporate finance magazine, Global […]<\/p>\n","protected":false},"author":84,"featured_media":9822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8,16],"tags":[234,236,233],"class_list":["post-9823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nBoN brushes off governor\u2019s D+ grade - Namibia<\/title>\n<meta name=\"description\" content=\"The Bank of Namibia on Monday scoffed at the unflattering grade its governor, Johannes !Gawaxab received in the latest G ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoN brushes off governor\u2019s D+ grade\" \/>\n<meta property=\"og:description\" content=\"The Bank of Namibia on Monday scoffed at the unflattering grade its governor, Johannes !Gawaxab received in the latest G ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-19T12:09:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-19T13:07:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/01\/img-61e80cdf5ee79.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BoN brushes off governor\u2019s D+ grade\",\"datePublished\":\"2022-01-19T12:09:23+00:00\",\"dateModified\":\"2022-01-19T13:07:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade\"},\"wordCount\":731,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/01\/img-61e80cdf5ee79.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade\",\"name\":\"BoN brushes off governor\u2019s D+ grade - Namibia\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/01\/img-61e80cdf5ee79.jpg\",\"datePublished\":\"2022-01-19T12:09:23+00:00\",\"dateModified\":\"2022-01-19T13:07:23+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The Bank of Namibia on Monday scoffed at the unflattering grade its governor, Johannes !Gawaxab received in the latest G ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/01\/img-61e80cdf5ee79.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/01\/img-61e80cdf5ee79.jpg\",\"width\":720,\"height\":479,\"caption\":\"BoN brushes off governor\u2019s D+ grade\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/namibia\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BoN brushes off governor\u2019s D+ grade\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#website\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/\",\"name\":\"Namibia\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/namibia\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"BoN brushes off governor\u2019s D+ grade - Namibia","description":"The Bank of Namibia on Monday scoffed at the unflattering grade its governor, Johannes !Gawaxab received in the latest G ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade","og_locale":"en_US","og_type":"article","og_title":"BoN brushes off governor\u2019s D+ grade","og_description":"The Bank of Namibia on Monday scoffed at the unflattering grade its governor, Johannes !Gawaxab received in the latest G ...","og_url":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade","og_site_name":"Namibia","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2022-01-19T12:09:23+00:00","article_modified_time":"2022-01-19T13:07:23+00:00","og_image":[{"width":720,"height":479,"url":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/01\/img-61e80cdf5ee79.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"BoN brushes off governor\u2019s D+ grade","datePublished":"2022-01-19T12:09:23+00:00","dateModified":"2022-01-19T13:07:23+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade"},"wordCount":731,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/01\/img-61e80cdf5ee79.jpg","keywords":["africa press","Africa Press-Namibia","namibia"],"articleSection":["all news","economy","head lines","homepage-english","twitter"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade","url":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade","name":"BoN brushes off governor\u2019s D+ grade - Namibia","isPartOf":{"@id":"https:\/\/www.africa-press.net\/namibia\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/01\/img-61e80cdf5ee79.jpg","datePublished":"2022-01-19T12:09:23+00:00","dateModified":"2022-01-19T13:07:23+00:00","author":{"@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The Bank of Namibia on Monday scoffed at the unflattering grade its governor, Johannes !Gawaxab received in the latest G ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#primaryimage","url":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/01\/img-61e80cdf5ee79.jpg","contentUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/01\/img-61e80cdf5ee79.jpg","width":720,"height":479,"caption":"BoN brushes off governor\u2019s D+ grade"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/bon-brushes-off-governors-d-grade#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/namibia\/"},{"@type":"ListItem","position":2,"name":"BoN brushes off governor\u2019s D+ grade"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/namibia\/#website","url":"https:\/\/www.africa-press.net\/namibia\/","name":"Namibia","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/namibia\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts\/9823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/comments?post=9823"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts\/9823\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/media\/9822"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/media?parent=9823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/categories?post=9823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/tags?post=9823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}