SA should “never be complacent” about protecting key institutions such as the central bank or National Treasury as it tries to boost economic growth, says IMF MD Christine Lagarde. “A sound monetary policy that walks on its two legs is precious and needs to be secured; a good, solid Treasury that can’t be compromised is a precious institution that needs to be secured and protected,” Lagarde told reporters on Wednesday in Pretoria. “I’m very hopeful that the strength of an institution like the central bank or the strengthening of the Treasury are issues that are high on the agenda and that there is never complacency about it.” The rise of populism in developed economies has brought with it a wave of attacks on central banks in the US, UK, Europe and SA, where governor Lesetja Kganyago successfully fought off a proposal by the public protector to change the constitution to remove the Reserve Bank’s inflation-target mandate. State capture Lagarde said she had held “excellent talks” wit...
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