South Africa: 2010 Article IV Consultation-Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for South Africa

September 21, 2010

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Format: Chicago

South Africa: 2010 Article IV Consultation-Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for South Africa, (USA: International Monetary Fund, 2010) accessed December 26, 2024

Summary

The global financial crisis had a much more pronounced impact on South Africa relative to some other large emerging markets. The overriding economic policy challenge is to reduce unemployment and inequality through higher economic growth. Unemployment is a key policy focus; and a wage subsidy aimed at younger unskilled workers, as well as other policy options, are under discussion. IMF staff broadly concur with the authorities’ approach, and believe that the current fiscal plan strikes the right balance between supporting the recovery through sustained infrastructure investment while ensuring fiscal sustainability.

Subject: Balance of payments, Banking, Current account deficits, External debt, Inflation, Labor, Prices, Public debt, Unemployment

Keywords: Africa, CR, Current account deficits, Debt, Deficit, Expenditure level, Financial crisis, Global, Improved inflation outlook, Inflation, Inflation expectation, Inflation outcome, Inflation outlook, ISCR, Sustainability framework, Unemployment

Publication Details

Pages:

58
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/296
Stock No:

1ZAFEA2010002
ISBN:

9781455208791
ISSN:

1934-7685

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