It was a clash of views when ministers accompanying Namibian President, Hage Geingob, met a delegation of Moody’s rating agency in London on Monday. The Namibian delegation expressed disappointment with the agency for downgrading the country’s credit rating to “junk status”, overlooking the measures government believe it has taken to save the economy in turbulence times. Finance Minister, Calle Schlettwein said the agency’s reasons were rather subjective and questioned why communication was only done via email, instead of sending a delegation to Namibia to assess the situation on the ground. Schlettwein further wanted to know “where did the irritating statement come from that our Swapo congress would overrun our budget statement?” Adding that Namibia has carried out elections in the past and managed both government and party spending. The Moody’s delegation was led by Alastair Wilson, Managing Director for Sovereign Risk. He maintained that “there is a much higher risk politically during national elections but the statement should be linked to geopolitics. The Namibian delegation, particular Mines and Energy Minister, Obeth Kandjoze, expressed his disappointment, saying the statement was issued without proof. Moody’s will visit Namibia in November but says it understands government’s disappointment but “we are comfortable with our judgment for now”.

