Johannesburg - South Africa's current account, fiscal deficits and poor economic growth pose a risk to monetary and fiscal policy, Reserve Bank Deputy Governor Daniel Mminele said on Friday.
In a speech delivered at a banking conference in Johannesburg, Mminele said global conditions were becoming less hospitable to countries with large funding requirements.
“Against the background of South Africa's elevated current account deficit, which is expected to only correct slowly, the risk of abrupt swings in capital flows cannot be under-estimated,” he said. - Reuters