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Pretoria, The Union Buildings

Pretoria: The Union Buildings

South Africa Resident Representative Site

Resident Representative Office in South Africa

This web page presents information about the work of the IMF in South Africa, including the activities of the IMF Resident Representative Office. Additional information can be found on the South Africa and IMF country page, including IMF reports and Executive Board documents that deal with South Africa.

At a Glance : South Africa's Relations with the IMF

  • Current IMF membership: 188 countries
  • South Africa joined the Fund on December 27, 1945
  • Quota: SDR 1,868.50 million
  • Outstanding loans: None
  • The latest Article IV consultation was discussed by the Executive Board on July 25, 2011 (Country Report 11/258)

We would like to bring to the notice of the general public that several variants of financial scam letters purporting to be sanctioned by the International Monetary Fund (IMF) or authored by high ranking IMF officials are currently in circulation, and may appear on official letterhead containing the IMF logo. The scam letters instruct potential victims to contact the IMF for issuance of a “Certificate of International Capital Transfer” or other forms of approval, to enable them receives large sums of monies as beneficiaries. The contact e-mail information is always BOGUS and unsuspecting individuals are then requested to send their personal banking details which the scammers utilize for their fraudulent activities.

For more information please see Fraudulent Scam Emails Using the Name of the IMF

News — Highlights

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South Africa’s Unemployment Puzzle

iMFdirect blog by Abebe Aemro Selassie, Assistant Director in the IMF’s African Department click for more

IMF Note for G-20 Leaders Summit

This note provides the IMF's assessment of the global economic and financial situation and prospects. It then assesses the policy response to date, and outlines the IMF's views on the policy challenges that lie ahead. click for more

G-20 Reaffirms IMF's Central Role in Combating Crisis

The Group of Twenty (G-20) industrialized and emerging market economies has reaffirmed the IMF’s central role in the international financial system, agreeing to triple the Fund’s lending capacity to $750 billion and enabling it to inject extra liquidity into the world economy, according to Managing Director Dominique Strauss-Kahn click for more

IMF Urges G-20 States To Take More Decisive Action to Combat Crisis

The IMF has urged the Group of Twenty (G-20) industrialized and emerging market countries to take more decisive policy action to combat the corrosive global financial and economic crisis by bolstering demand and cleaning up the financial sector. click for more

South Africa and the IMF

Real Wage, Labor Productivity, and Employment Trends in South Africa: A Closer Look

April 1, 2012
Author/Editor: Klein, Nir
Series: Working Paper No. 12/92 click for more

IMF Survey: Odds in Africa's Favor as Continent Walks Economic Tightrope

January 10, 2012
The big question for sub-Saharan Africa in 2012 is whether the region can sustain its recent strong growth despite a stalling global economy. The odds seem in its favor. But the costs of a fall from its tightrope 2011 performance remain disconcertingly high.  click for more

Press Release: Statement by IMF Managing Director Christine Lagarde at the Conclusion of her Visit to South Africa

January 7, 2012

Press Release: IMF Managing Director Christine Lagarde to Visit South Africa

December 19, 2011

Finance & Development, December 2011 - What Ails South Africa

December 1, 2011
By Abebe Aemro Selassie - Plagued by high unemployment and closely tied to Europe, South Africa struggles click for more

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Regional Economic Outlook for Sub-Saharan Africa

image from the publication cover

This year looks set to be another encouraging one for most sub-Saharan African economies. Reflecting mainly strong demand but also elevated commodity prices, the region's economy is set to expand by more than 5¼ percent in 2011. For 2012, the IMF staff's baseline projection is for growth to be higher at 5¾ percent, owing to one-off boosts to production in a number of countries. There are, however, specters at the feast: the increase in global food and fuel prices, amplified by drought affecting parts of the region, has hit the budgets of the poor and sparked rising inflation, and hesitations in the global recovery threaten to weaken export and growth prospects. The projection for 2012 for the region is highly contingent on global economic growth being sustained at about 4 percent. A further slowing of growth in advanced economies, curtailing global demand, would generate significant headwinds for the region's ongoing expansion, with more globally integrated countries likely to be most affected. Policies in the coming months need to tread a fine line between addressing the challenges that strong growth and recent exogenous shocks have engendered and warding off the adverse effects of another global downturn. In some slower-growing, mostly middle-income countries without binding financial constraints, policies should clearly remain supportive of output growth, even more so if global growth sputters. Provided the global economy experiences the currently predicted slow and steady growth, most of the region's low-income countries should focus squarely on medium-term considerations in setting fiscal policy while tightening monetary policy wherever nonfood inflation has climbed above single digits. In the event of a global downturn, subject to financing constraints, policies in these countries should focus on maintaining planned spending initiatives, while allowing automatic stabilizers to operate on the revenue side. For the region's oil exporters, better terms of trade provide a good opportunity to build up policy buffers against further price volatility. Click for more

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Resident Representative for South Africa

Senior Resident Representative:
Mr. Alfredo Cuevas

Administrative Assistant:
Ms. van der Westhuyzen

Tel: 27 (0) 12- 346- 6365
Fax: 27 (0) 12- 346- 5232
Address: PO Box 12082; Hatfield 0028; Pretoria
E-mail: RR-ZAF@imf.org