South African current account “not nearly as bad” as three years ago: IMF economist

Visitors are silhouetted against the logo of the International Monetary Fund at the main venue for the IMF and World Bank annual meeting in Tokyo, file. REUTERS/Kim Kyung-Hoon
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PRETORIA (Reuters) – South Africa’s current account deficit is “not nearly as bad” as when it was considered part of the so-called “fragile five”, International Monetary Fund chief economist Maurice Obstfeld said on Thursday.

South Africa was one of five countries including Turkey, Brazil, India and Indonesia that got their name in 2013 when hints emerged that the U.S. Federal Reserve would end its easy-money policy.

(Reporting by TJ Strydom; Editing by

 

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