South Africa: Staff Report for the 2005 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 346

Publication date: September 2005

ISBN: 9781451966817

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , CPIX inflation , GDP , supply-side GDP data , deficit , show real GDP growth , U , S , dollar , monetary policy , increase monetary policy effectiveness , market share , Inflation , Africa , Global , Southern Africa

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Summary

South Africa’s 2005 Article IV Consultation reports that the short-term outlook is broadly favorable, with the main risks arising from a possible worsening of the external environment. The authorities plan to maintain a flexible exchange rate, and to intervene in the foreign exchange market only to accumulate international reserves when market conditions are favorable. The banking system is sound, and short-term vulnerabilities appear limited. Some pressures could arise from banks’ large mortgage portfolio carrying variable interest rates.