Namibia Downgraded to Lower-Middle-Income Status by World Bank

  • Namibia’s GNI per capita fell below the upper-middle-income threshold due to slower GDP growth and revised population figures
  • A 13.8% increase in population estimates led to a 12.9% drop in Atlas GNI per capita
  • Declining diamond output and easing inflation further pressured income levels
  • The downgrade may improve access to concessional funding but challenges Vision 2030 goals
  • Former leaders argue the shift better reflects economic inequality and development needs