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South Africa's Rand Held Back by Political Uncertainty, IMF Says

  • Polls predict comfortable election win for Ramaphosa’s ANC
  • Macro policy settings have been sound, IMF’s Africa chief says

Political uncertainty is probably depressing the value of South Africa rand, according to the head of the International Monetary Fund’s Africa department.

South Africa’s fiscal and monetary policy has been “as good as it gets,” Abebe Selassie said in an interview in Washington. “It’s more on the structural side that attention is needed. It’s more about getting confidence in the private sector to invest."