IMF Staff Country Reports

South Africa: Staff Report for the 2002 Article IV Consultation

Publication Date:

January 23, 2003

Electronic Access:

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Summary:

This 2002 Article IV Consultation highlights that in 2001, the South African economy felt the impact of a slowdown in global economic activity, which interrupted the modest upturn that started late in 1998. Driven mainly by a contraction in overseas demand that lowered export prices and volumes, real GDP growth fell to 2.2 percent in 2001 from 3.4 percent in 2000. Activity reached a trough in the third quarter of the year, with GDP growth slowing to about 1 percent at an annualized rate and unemployment rising further from already high levels.

Series:

Country Report No. 2003/017

Subject:

Currencies Depreciation Exchange rates External debt Foreign exchange Health HIV and AIDS Labor National accounts