South Africa: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussions; and Statement by the Executive Director for South Africa

October 22, 2008

Preview Citation

Format: Chicago

South Africa: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussions; and Statement by the Executive Director for South Africa, (USA: International Monetary Fund, 2008) accessed December 27, 2024

Summary

This 2008 Article IV Consultation highlights that South Africa’s economic performance has strengthened in the last several years, with real GDP growing by 5–5½ percent in 2005–07, inflation declining to mid-single digits until recently, and employment growing steadily. However, 2008 saw a slowdown in activity, reflecting the cumulative impact of electricity power shortages, the global slowdown, and past monetary tightening. Executive Directors have welcomed the authorities’ pursuit of a prudent fiscal policy, and their intention to maintain a broadly neutral fiscal stance in 2008.

Subject: Balance of payments, Banking, Current account deficits, Expenditure, External debt, Inflation, Prices, Public debt, Public investment spending

Keywords: Africa, Break-even inflation rates, CPIX inflation, CR, Current account deficits, Debt service, Global, Household debt service, Inflation, Inflation outlook, Inflation pressure, ISCR, Public investment spending, Repurchase rate, Southern Africa

Publication Details

Pages:

63
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/348
Stock No:

1ZAFEA2008002
ISBN:

9781451841077
ISSN:

1934-7685

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