IMF urges improved fiscal consolidation to limit rising debt as currencies weaken
SA has continued to see a worsening trend in its terms of trade over the past 12 months, adding to rand weakness
18 May 2023 - 17:48
The International Monetary Fund (IMF) has called on African countries to strengthen their fiscal consolidation efforts if they are to successfully limit the increase in debt-related currency depreciations.
African countries have, over the past year, seen their currencies weaken significantly against the dollar, as lower risk appetite in global markets and interest-rate hikes in the US pushed investors away from the continent towards safer and higher-paying US treasury bonds...
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