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South Africa: Selected Issues
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 1998: Issue 096
Language:
English
Publication Date:
05 Oct 1998
DOI:
https://doi.org/10.5089/9781451840940.002
ISBN:
9781451840940
ISSN:
1934-7685
Pages:
206
Keywords:
ISCR; CR; government; TFP growth; exchange rate; SADC country; Nontax revenue; capital share; foreign currency; Total factor productivity; Exports; Total expenditures; Commercial banks; Imports; Africa; Southern Africa; East Asia
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This Selected Issues paper highlights that cautious monetary and fiscal polices of South Africa during 1997 resulted in a return of financial investor confidence and capital inflows during 1997 and through April 1998. These policies helped the South African economy emerge successfully from the exchange market pressures of 1996 and weather the contagion from the East Asian crisis in the second half of 1997. Throughout 1997 and up until May 1998, inflation and market interest rates fell considerably, net international reserves increased, and the net open forward position of the Reserve Bank was reduced sharply.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund