Namibia Added to Global Watchdog’s Dirty Money List (1)

Namibia has been placed on a global financial watchdog’s “gray list” due to its shortcomings in tackling illicit financial flows, a move that comes as the country courts foreign capital to try and take advantage of its green hydrogen and mineral reserves.

The decision announced by the Financial Action Task Force on Friday has several implications for Namibia, including potential negative impacts on foreign direct investment, trade and financial transactions, central bank Governor Johannes !Gawaxab said in a statement. An International Monetary Fund study found that capital inflows decline on average by 7.6% of gross domestic product when a country ...