South Africa: Staff Report for the 2002 Article IV Consultation

January 23, 2003

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South Africa: Staff Report for the 2002 Article IV Consultation, (USA: International Monetary Fund, 2003) accessed December 25, 2024

Summary

This 2002 Article IV Consultation highlights that in 2001, the South African economy felt the impact of a slowdown in global economic activity, which interrupted the modest upturn that started late in 1998. Driven mainly by a contraction in overseas demand that lowered export prices and volumes, real GDP growth fell to 2.2 percent in 2001 from 3.4 percent in 2000. Activity reached a trough in the third quarter of the year, with GDP growth slowing to about 1 percent at an annualized rate and unemployment rising further from already high levels.

Subject: Currencies, Depreciation, Exchange rates, External debt, Foreign exchange, Health, HIV and AIDS, Labor, National accounts

Keywords: Adjustment in interest rates, Africa, Authorities intention, CPIX inflation, CR, Depreciation, Exchange rates, Global, Government, HIV and AIDS, ISCR, Policy advice, Reserve bank's target, Southern Africa, Target of an average

Publication Details

Pages:

65
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2003/017
Stock No:

1ZAFEA0012003
ISBN:

9781451840971
ISSN:

1934-7685

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