FACTBOX-Namibia, land of diamonds amd uranium

Nov 27 (Reuters) - President Hifikepunye Pohamba and his ruling SWAPO party face a strong challenge in this week's presidential and national assembly elections, with the Rally for Democracy and Progress expected to become the new official opposition.

Pohamba, 74, suceeded Namibia's founding president, Sam Nujoma, in 2005, and has ruled ever since.

Here are some details about Namibia:

* THE ECONOMY:

-- Namibia is a big diamond producer and home to 10 percent of the world's uranium output.

-- The Bank of Namibia cut interest rates by 350 basis points between December and June to try boost flagging growth, after the global downturn hit demand for exports from its key mining sector. -- Easing inflation over the past year had opened the way for interest rate cuts in the southern African economy, with consumer inflation slowing to a 7.1 percent in September, its lowest level in almost two years.

-- The economy is expected to contract by 0.6 percent in 2009, before recovering in 2010 on higher commodity prices and mining production hit by the downturn.