Address by Lesetja Kganyago, Governor, South African Reserve Bank at the New York Investment Conference, 5 October 2015
Last Modified Date:
2023-11-13, 10:04 AM
Speeches > Speeches by Governors
South Africa has sailed a considerable distance over the past two decades.
Perhaps the most critical macroeconomic markers over that distance were the
efforts made in the late 1990s to establish fiscal credibility, the adoption of an
inflation-targeting monetary framework, and the adjustment to a marketdetermined exchange rate. My good friend and colleague, the Minister of
Finance, Nhlanhla Nene will address the first.
All three of these fundamental macroeconomic policy achievements are essential
to understanding where we are now. And they are critical to thinking through why
our policy stance and institutions will continue to support the economy through
the adjustment needed in the face of major global forces beyond our control.