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South Africa: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa

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  • International Monetary Fund

Abstract

South Africa has made considerable economic and social strides since 1994, but faces significant challenges. Deep-rooted structural problems—infrastructure bottlenecks, skill mismatches, and harmful insider-outsider dynamics—have kept unemployment and inequality unacceptably high. Also, a confluence of external and domestic shocks, combined with heightened governance concerns and policy uncertainty, have weighed on confidence and growth. Though private balance sheets are still strong, vulnerabilities are elevated. 2016 growth is projected at 0.1 percent. Only a muted recovery is envisaged from 2017, with rising unemployment. Downside risks dominate and stem mainly from China, heightened global financial volatility, and domestic politics and possible policy missteps. Shocks could be amplified by extensive macro-financial linkages, especially if combined with sovereign credit rating downgrades to speculative grade. On the upside, the recent dialogue between social partners could catalyze reform implementation and invigorate growth.

Suggested Citation

  • International Monetary Fund, 2016. "South Africa: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa," IMF Staff Country Reports 2016/217, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2016/217
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=44062
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    Cited by:

    1. Bak Barnaba Chol & Elizabeth Kalunda Nthambi & Joseph N. Kamau, 2019. "Influence of bank stability on the financial performance of commercial banks in South Sudan," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 8(5), pages 251-257, September.
    2. Bak Barnaba Chol & Elizabeth Kalunda Nthambi & Joseph N Kamau, 2019. "Ownership structure, bank stability and the financial performance of commercial banks in South Sudan," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 8(6), pages 31-39, October.
    3. Jonathan D. Quartey, 2021. "Energizing Africa Sustainably: Lessons from Ghana’s Electricity Infrastructure," International Journal of Publication and Social Studies, Asian Economic and Social Society, vol. 6(1), pages 1-17, June.

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