Search Results for: International Monetary Fund

Mini Budget 2014: Finance Minister Nhlanhla Nene’s full speech

The Full Mini Budget Speech by Finance Minister Nhlanhla Nene (Click here for the supporting documents):  It is my privilege to present the 2014 Medium Term Budget Policy Statement and the Adjustments Appropriation Bill, the Division of Revenue Amendment Bill, all for 2014/15, and this year’s Revenue Laws Amendment Bills. Mister President, we are calling … Read more

Rand selloff looms: Pressure to reverse Carry Trade reaching boiling point

While the American economy was under pressure and its Quantitative Easing policy pumped money into the global economy faster than it could be spent, all was well with Emerging Market currencies like the Rand. Forex desk jockeys in London and New York borrowed greenbacks at low interest rates to reinvest them in Emerging Market countries … Read more

S&P sees more ratings for Nigerian, Kenyan companies

By Carolyn Cohn LONDON (Reuters) – Standard & Poor’s expects to rate a number of Nigerian banks this year and is talking to some Kenyan banks and companies about future credit ratings, its managing director for sub-Saharan Africa said on Monday. Borrowers across the continent are looking to tap international capital markets following successful bond sales by African … Read more

Is SA headed for the dreaded stagflation?

Right now, I think that Gill Marcus and her team have some of the toughest jobs out there. The South African economy is in quite a state. Inflation has breached the target, but GDP is shrinking. Strikes are paralysing the key mining sector, government spending is creating a substantial fiscal deficit, slack imports are generating … Read more

Brigid Taylor unpacks Rand’s exchange rate woes

The Rand has been in a slump for two weeks, added to this is what feels like a never-ending platinum sector strike, a contracting economy, weak exports and the threat of downgrades, it all certainly makes for a gloomy South African environment. One that when assessing the barrier breaking JSE in contrast, is quite simply … Read more

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