Namibia: Worried About the Financial Crisis? Invest in Cattle - PM
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The Namibian (Windhoek)
8 October 2008
Posted to the web 8 October 2008
Brigitte Weidlich
NAMIBIANS should invest in cattle, which are a safer bet than financial institutions in view of the global financial crisis, Prime Minister Nahas Angula advised Members of Parliament yesterday.
Responding to an oral question - a parliamentary mechanism seldom used in the National Assembly - from DTA politician McHenry Venaani about whether the Namibian economy would feel the pinch, the Prime Minister replied: "I advise you to invest in cattle."
On a more serious note, Angula said the Bank of Namibia had not submitted anything to Government yet with regard to a possible impact on Namibia's financial sector.
"I have also not heard of any effects on Namibia, although I am aware that EU governments are acting on the crisis.
Our Cabinet has not yet deliberated on this matter, so there is no reason to panic," the Prime Minister said.
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If the government is not doing a thing, then something is wrong. They are in denials. The Americans were in denials too, So were the Canadaian until two days ago. Namibia should take some action. Either lower their interest rate or pump money into the economy.