
South Africa urged to avoid rand intervention
A senior World Bank economist on Monday 31 January praised the South African Reserve Bank's strategy of cautiously accumulating foreign reserves and said a deliberate weakening of the rand could have negative consequences for the economy.
World Bank chief economist for Latin America Guillermo Perry said that commodity-rich Latin American countries had kept their interest rates very low, accumulated international reserves and boosted government savings to militate against their currencies appre
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