Namibia has been placed on a global financial watchdog’s so-called gray list denoting nations with shortcomings in tackling illicit financial flows, a move that scars their international reputations and may impact foreign direct investment.
The decision announced by the Financial Action Task Force on Friday has several implications for Namibia, including potential negative impacts on FDI, trade and financial transactions, central bank Governor Johannes !Gawaxab said in a statement.
Source: norvanreports.com