Chinese Central Bank on Visit


By Mbatjiua Ngavirue WINDHOEK Bank of Namibia Governor (BoN) Tom Alweendo yesterday held talks with a delegation from the Peoples Bank of China (PBC), led by the bank’s Deputy Governor Su Ning. The PBC delegation was in Namibia on a three-day visit during which it visited various parts of the country before meeting with BoN. Chinese Ambassador to Namibia Liang Yinzhu accompanied Su Ning and four other senior officials of the PBC to the talks. Alweendo said the talks were aimed at further strengthening the ties between the two central banks in the area of economic policy management, particularly in central banking matters. The Bank of Namibia said Su and Alweendo exchanged views on both the world and domestic economies and other issues of mutual interest. The visit by the Chinese central bankers follows a similar visit to China by a Namibian delegation led by Alweendo in May this year. Speaking at a media briefing after the meeting, he added they exchanged views on issues such as regional coordination of central banks on the African continent. In the light of Alweendo’s recent appointment as chairperson of the Association of African Central Banks, they also shared views on the creation of an African central bank. The two central banks have not yet signed a formal co-operation agreement, but according to Alweendo, research teams from the two institutions will continue to share information on an informal basis. Deputy Governor Su said he came to Namibia to learn more about the country’s economy and to explore how to extend co-operation between China and Namibia. Su said that during the last few years China has maintained good economic growth rates, achieving growth of 10.9% last year. The country however faced the challenge of excessive investment, but the PBC was taking measures to prevent overheating of the economy. “But during the last two years the rate of investment and monetary growth has slowed down,” he explained.