South Africa: Staff Report for the 2005 Article IV Consultation

International Monetary Fund

No 2005/346, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: 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 (search for similar items in EconPapers)
Pages: 67
Date: 2005-09-19
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