Central Banks
Namibia Warns Trump Spat With South Africa Puts Economy at Risk
- US froze aid to South Africa over land-expropriation law
- Namibia’s currency is pegged to the South African rand
Pedestrians walk across a street in Windhoek, Namibia.
Photographer: Simon Maina/AFP/Getty ImagesNamibia’s central bank chief warned that escalating tensions between the US and South Africa could destabilize its economy, citing the close ties it has with the two nations and the vulnerability of the Namibian dollar, which is pegged to the rand.
President Donald Trump in a Feb. 7 executive order froze all US aid to South Africa over what he falsely claimed were rights violations stemming from a new land-expropriation law, and for its case in the International Court of Justice alleging Israel’s assault in the Gaza Strip was an act of genocide.