South Africa: Staff Report for the 2002 Article IV Consultation

International Monetary Fund

No 2003/017, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; CPIX inflation; target of an average; reserve bank's target; policy advice; government; adjustment in interest rates; authorities intention; HIV and AIDS; Exchange rates; Depreciation; Africa; Global; Southern Africa (search for similar items in EconPapers)
Pages: 65
Date: 2003-01-23
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