The Financial Sector Forum
Emerging markets
‘Unbeatable’ growth path to lift Africa
08 May. ‘Unbeatable’ growth path to lift Africa, says Gordhan. Africa is on a “potentially unbeatable” growth and development path for the next two decades, and will increasingly attract global investment, says Finance Minister Pravin Gordhan. Co-operation among Africa’s 54 states would be crucial in boosting the region’s overall annual growth rate to the 7% … Continue reading
South African Financial Market Infrastructures
11 Sep. The importance and development of sound Financial Market Infrastructures to position South Africa in SADC, BRICS and Worldwide”. Address by Deputy Governor Daniel Mminele at the SWIFT Business Forum, Johannesburg, September 2012. Introduction … Why is BRICS important? … The importance of Financial Market Infrastructure I will now turn to the topic of … Continue reading
A sticky spell for the emerging world
Emerging markets: The great slowdown. A sticky spell for the emerging world carries warnings for its long-term growth. In the past decade emerging markets have established themselves as the world’s best sprinters. As serial crises tripped up America and then Europe, China barely broke stride. Other big developing nations paused for breath only briefly. Investors … Continue reading
BRICS: No Rival to World Bank
BRICS Leaders Fail to Create Rival to World Bank. Leaders of five emerging world economic powers convened on Thursday for a one-day diplomatic meeting, pledging to expand mutual trade while urging faster reforms of the Western-dominated global financial system. They also called for dialogue, not military intervention, in addressing the violence in Syria and Iran’s … Continue reading
South Africa’s presence ‘drags down Brics’
A year later and South Africa has still not convinced the world or the creator of Brics why it belongs in the exclusive emerging-giant grouping that includes Brazil, Russia, India and China. “It’s just wrong. South Africa doesn’t belong in Brics,” said Jim O’Neill, global chairman of Goldman Sachs Asset Management, who coined the term … Continue reading
Lagarde vows IMF will stand by Africa
International Monetary Fund (IMF) MD Christine Lagarde yesterday called for greater efforts to shield African countries from the crisis affecting developed economies. In a keynote speech to economists, academics and private sector representatives in Lagos, Nigeria, Ms Lagarde said the IMF would stand by its African members through times of economic uncertainty. “These are challenging … Continue reading
SA wary of Brics aid for euro rescue
Gill Marcus, Reserve Bank, paints a depressing picture of the state of the global economy and South Africa’s own prospects. Gill Marcus, governor of the Reserve Bank, on Wednesday warned that any plan by the Brics countries, of which South Africa is one, to assist the euro zone in solving its debt crisis needed to … Continue reading
Emerging markets caught in crossfire
The sovereign debt crisis in Europe has prompted extreme levels of volatility in stock exchanges around the world. Emerging markets had experienced greater levels of financial market volatility than “countries that are the source of the problem”, Finance Minister Pravin Gordhan said. At the annual meeting of the World Federation of Exchanges (WFE) in Sandton, … Continue reading
BRICS call on Europe to act fast
26 Sep. BRICS call on Europe to act fast. Economic chiefs of the large emerging economies called on Europe to take action quickly to resolve their economic crisis, saying it was hurting global growth. “European countries need to be quick, bold and cooperative with each other, that’s what we recommend,” Brazilian Finance Minister Guido Mantega … Continue reading
SA still the robust engine of Africa for US investors
SA still the ‘robust engine’ of Africa for US investors. US investors still thought of SA as Africa’s “robust economic engine” despite concern about slower growth and the raging debate over nationalisation, senior US officials yesterday said. US Assistant Secretary of Commerce for Market Access and Compliance Michael Camun ez arrived in SA yesterday with … Continue reading
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