Bank of Namibia (BoN) announced today that some of the COVID-19 relief measures will remain in place to support economic recovery.

In a media statement issued today, BoN’s Strategic Communications and International Relations Director, Kazembire Zemburuka, said BoN has decided to continue with some of the measures instituted to cushion households and businesses from the impacts of the COVID-19 pandemic and its related restrictions on economic activities.

He confirmed that the new measures provided for in the Determination on Policy Changes in Response to Economic and Financial Stability Challenges following the fallout of the COVID-19 pandemic (BID-33) came into effect on 02 April 2023 and are valid until 01 April 2024.

The Determination BID-33 was extended in 2021 and 2022 until 31 March 2023 and again revived on Monday.

Zemburuka added that the decision to continue with some of the COVID-19 relief measures was necessitated by the need to revive key sectors where economic activity was downscaling by pandemic-related restrictions.

Source: Namibia Press Agency