International Trade and South African Rand
Introduction:
Namibia is small flourishing country located in the south west of Africa. Its surrounding neighbors are Angola, Botswana, South Africa, and the South Atlantic Sea. The country is very young, and was recently liberated from foreign and South African rule, and was formerly known as South West Africa. Compared to all of its neighbors Namibia has an extremely low unemployment rate of 5.3%, and a GDP per capita of 7,500 USD. Even though the country appears to have a high per capita GDP compared to some of its other neighbors, the distribution of wealth in the country is one the “world’s most uneven distributions of wealth”. Namibia also has close economical ties with South Africa, because the South African rand and the Namibian dollar are both forms of legal tender in the country, due to a Common Monetary Area. Namibia is still a new economically developing country that’s starting to prosper, wit the help of its natural resources, and financial aid from countries that support democracies. They are also thinking about their future by trying to preserve, their natural resources and encouraging travel and tourism to the country.
History
The Republic of Namibia was granted their independence on March 21st 1990, although the path leading up to this process was long and bloody. Before Namibia was declared a republic, they were occupied by colonial rule from Britain, Germany, and South Africa, after almost a century of blood shed they were finally granted their freedom. The war was fought mainly by the SWAPO (The South West Africa Peoples Organizations), they were a Marxist guerilla group that lorded over the war of independence. During the first World War South Africa occupied Namibia and it became under South African administration. In 1988 South Africa agreed to end its administration of Namibia under a UN peace plan for the region. It was granted full independence on 21st of March 1990. After independence Namibia
Namibia is small flourishing country located in the south west of Africa. Its surrounding neighbors are Angola, Botswana, South Africa, and the South Atlantic Sea. The country is very young, and was recently liberated from foreign and South African rule, and was formerly known as South West Africa. Compared to all of its neighbors Namibia has an extremely low unemployment rate of 5.3%, and a GDP per capita of 7,500 USD. Even though the country appears to have a high per capita GDP compared to some of its other neighbors, the distribution of wealth in the country is one the “world’s most uneven distributions of wealth”. Namibia also has close economical ties with South Africa, because the South African rand and the Namibian dollar are both forms of legal tender in the country, due to a Common Monetary Area. Namibia is still a new economically developing country that’s starting to prosper, wit the help of its natural resources, and financial aid from countries that support democracies. They are also thinking about their future by trying to preserve, their natural resources and encouraging travel and tourism to the country.
History
The Republic of Namibia was granted their independence on March 21st 1990, although the path leading up to this process was long and bloody. Before Namibia was declared a republic, they were occupied by colonial rule from Britain, Germany, and South Africa, after almost a century of blood shed they were finally granted their freedom. The war was fought mainly by the SWAPO (The South West Africa Peoples Organizations), they were a Marxist guerilla group that lorded over the war of independence. During the first World War South Africa occupied Namibia and it became under South African administration. In 1988 South Africa agreed to end its administration of Namibia under a UN peace plan for the region. It was granted full independence on 21st of March 1990. After independence Namibia
Bibliography: OECD – Africa Outlook Namibia 2007, PG 413.HTTP://dx.doi.org/10.1787/1707438272131 http://unstats.un.org/unsd/methods/m49/m49regin.htm Namibia report by the world bank, Published on 28/9/07, http://devdata.worldbank.org/AAG/nam_aag.pdf http://www.itcilo.it/actrav/actrav-english/telearn/global/ilo/blokit/mercosur.htm http://www.economywatch.com/world_economy/namibia/export-import.html http://www.undp.un.na/Publications/2004%20CCA%20-%20Final.pdf Transparency International : http://www.transparency.org/news_room/in_focus/2007/cpi2007/cpi_2007_table http://allafrica.com/stories/200710190970.html www.npc.gov.na – Namibian government website CIA World Fact book.