Governor, Central Bank Tom Alweendo of Namibia

Alweendo said this was a worrying trend as some land meant for food production was put to biodiesel production, thereby pushing up the prices of food.

Alweendo said the real gross domestic product (GDP) was broad-based as all major industries recorded positive growth unlike secondary industries, which slowed down because of lower diamond production.

Tom Alweendo says that it is necessary to create a sound environment for local investment to address the effects of the crisis.

9 per cent in July, which could still go up, BoN governor Tom Alweendo said last Thursday.

Alweendo said that the decline in prices of oil from US$ 148 per barrel in July to around US$ 113 per barrel currently, should provide relief to inflationary pressures.

Alweendo said that the bank was confident about the currency peg as a nominal anchor to ensure long term price stability.

Bank of Namibia Governor Tom Alweendo said they had taken cognisance of the turmoil in global financial markets, saying that while it had negatively impacted on the outlook of the international economy in terms of declining equity prices across major stock markets, there are also encouraging signs that some exogenous factors such as high food and fuel prices that have to a large extent driven domestic inflation, have started to abate.

Alweendo said that although the overall inflation rate for August and September had remained relatively high at 12 per cent, domestic demand conditions were relatively restrained, providing assurance that the less accommodative monetary policy stance of the Bank has been effective in containing price pressures originating from domestic sources of inflation.

Alweendo said authorities had been slow to push for banks to localise their operations, adding that banks had been given enough time to implement the process.

9 percent in July, could still rise, Bank of Namibia Governor Tom Alweendo said Thursday that volatility in international prices of crude has tapered off, a welcome relief to external inflation pressures.

Alweendo said that the decline in prices of oil from US$148 per barrel in July to the current US$113 per barrel, should provide relief to inflationary pressures.

APA-Windhoek (Namibia) Bank of Namibia Governor Tom Alweendo has called for government regulation in the financial sector, saying that the current financial crisis in US financial markets has revealed that the market knows-it-all approach does not work.

fiscal year, and the external current account recorded healthy surpluses.

waiting for 95 days to start up a new business.

communication par excellence and Tilahun as an innovative entrepreneur.

Mr Alweendo said that the bank aims to promote orderly and bal¬anced economic development by taking due regard to the current economic conditions in the country.