Economic challenges: Enoch Godongwana
It was a busy week in Washington during which the World Bank and IMF Spring meetings were held.
And where South Africa’s Finance Minister and Reserve Bank governor took a lead in discussions on the G20, as South Africa holds its Presidency this year. Top of the agenda at these various meetings was the pivotal change in global trade relations resulting from the new US administration’s trade tariff policy. This resulted in the IMF’s world economic outlook report slashing global GDP estimates by 0.5 percentage points and cutting South Africa’s growth forecast for this year by a similar margin, putting GDP at 1%.
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