Mounting Household Debt Ruffle Money Feathers

[New Era]Windhoek -The huge penchant of Namibians for flashy, expensive things that they can hardly afford continues unabated with consumer debts standing at N$36.6 billion as of December 2013. It is a situation that is likely to come to haunt those with debts if the central bank does indeed increase the interest rate, when the Monetary Policy Committee meets on February 19. The Bank of Namibia is already concerned with the high level of debt among households, for money borrowed to be used on non-productive purchases, and ha