Namibia attends Finance Ministers’ meeting

FINANCE-Minister Saara Kuugongelwa-Amadhila has joined other Finance Ministers and delegates from 53 countries attending the Commonwealth Finance Ministers’ Meeting, which is underway in Bridgetown, Barbados.

This annual meeting is scheduled for September 18 to 20 and it will be facilitated by the Prime Minister of Barbados, Owen Arthur. The meeting, with the theme ‘ Giving Practical Effect to the Millennium Project Review’, will discuss the world economy and the effect of higher oil prices on Commonwealth developing countries.The meeting also seeks to build on the outcomes of the United Nations Millennium Project, set up to advise the UN on strategies to achieve the Millennium Development Goals.Also on the agenda are the US budget and trade deficits, which pose systematic threats, the weak dollar, higher interest rates in industrial country markets and weak economic performance in the Eurozone and Japan.Subsequently, Minister Kuugongelwa-Amadhila will also attend the annual meetings of the International Monetary Fund and World Bank scheduled to take place from September 22 to 26 in Washington, DC.On the agenda of this meeting, will be the long-term debt sustainability framework for low-income countries as well as the burden of domestic debt.There will also be an opportunity to showcase the commercial investment funds launched under the Commonwealth Private Investment Initiative.Issues of special interest to small states, such as compliance costs of responding to higher levels of security threats internationally, higher debt levels, natural disasters and HIV-AIDS, will also be discussed.The minister is expected to return home on September 27.-NampaThe meeting, with the theme ‘ Giving Practical Effect to the Millennium Project Review’, will discuss the world economy and the effect of higher oil prices on Commonwealth developing countries.The meeting also seeks to build on the outcomes of the United Nations Millennium Project, set up to advise the UN on strategies to achieve the Millennium Development Goals.Also on the agenda are the US budget and trade deficits, which pose systematic threats, the weak dollar, higher interest rates in industrial country markets and weak economic performance in the Eurozone and Japan.Subsequently, Minister Kuugongelwa-Amadhila will also attend the annual meetings of the International Monetary Fund and World Bank scheduled to take place from September 22 to 26 in Washington, DC.On the agenda of this meeting, will be the long-term debt sustainability framework for low-income countries as well as the burden of domestic debt.There will also be an opportunity to showcase the commercial investment funds launched under the Commonwealth Private Investment Initiative.Issues of special interest to small states, such as compliance costs of responding to higher levels of security threats internationally, higher debt levels, natural disasters and HIV-AIDS, will also be discussed.The minister is expected to return home on September 27.-Nampa