Metals trade jitters levy pain on Namibian economy
The African nations diamonds and other mineral resources are failing to produce the cash needed to prop up its faltering economy.
February 28, 2013
28 February 2013 With mineral exports making up half of the Namibia's total export revenues, the southern African country is especially vulnerable to the recent volatility in the prices of global commodities.
And the verdict from most metals analysts suggests Namibia should worry about the prospects of commodities faltering even further as the global economy expands slowly.
"We continue to believe that [metals and minerals] prices will begin to weaken by mid-year as the market fully factors in the re-assessment of the global growth picture," said Michael Lewis, a commodity analyst at Deutsche Bank.
