External Sector Developments Clause Samples

External Sector Developments. 109. The capital and financial account recorded a surplus of N$4.0 billion in 2011, compared to a deficit of N$2.3 billion in the previous year. The improvement arose mainly from significantly increased inflows of foreign direct investment into Namibia, a reduction in the net outflows from portfolio investment, following the issuance of the Euro bond, and substantial increases in SACU receipts. Outflows in other investment – short term, however, remained high mainly due to excess liquidity experience by the local commercial banks.