## South Africa: Post-Financing Assessment-Press Release; and Staff Report

_IMF Staff Country Reports, September 4, 2024_

## Source details

**Canonical URL:** [South Africa: Post-Financing Assessment-Press Release; and Staff Report](https://www.imf.org/en/publications/cr/issues/2024/09/04/south-africa-post-financing-assessment-press-release-and-staff-report-554545)

## Other formats

- [Markdown version](/en/publications/cr/issues/2024/09/04/south-africa-post-financing-assessment-press-release-and-staff-report-554545/index.md)
- [Structured JSON version](/en/publications/cr/issues/2024/09/04/south-africa-post-financing-assessment-press-release-and-staff-report-554545/index.json)
- [Bundle manifest](/en/publications/cr/issues/2024/09/04/south-africa-post-financing-assessment-press-release-and-staff-report-554545/bundle-manifest.json)

## Bibliographic details
- Published: September 4, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400286186.002

---

### Overview and context
- Presents South Africa’s Post-Financing Assessment report.
- The new government of national unity that took office in June faces significant challenges:
  - declining real per capita growth
  - high unemployment
  - poverty and inequality
  - a rising level of public debt
- The new administration committed to:
  - continuing ongoing structural reforms aimed at addressing supply constraints and bolstering inclusive growth
  - maintaining fiscal discipline

### Key findings and priorities
- Main policy focus:
  - bolstering inclusive growth
  - restoring fiscal sustainability
  - managing the descent of inflation to target
  - safeguarding financial stability
- Monetary policy guidance:
  - carefully manage the descent of inflation to the mid-point of the target range
  - stay data dependent
  - rate cuts should be considered only after inflation declines sustainably toward the midpoint of the target range
- Financial sector risks:
  - authorities should continue to monitor financial sector risks, including those related to the bank-sovereign nexus
  - enhance supervision and prudential regulations

### Policy recommendations (enumerated)
- Continue structural reforms to address supply constraints and bolster inclusive growth.
- Maintain fiscal discipline to restore fiscal sustainability.
- Monetary policy:
  - remain data dependent
  - manage inflation descent toward the midpoint of the target range
  - consider rate cuts only after sustainable decline in inflation toward midpoint of target range
- Financial regulation:
  - monitor bank-sovereign nexus risks
  - strengthen supervision and prudential regulations

### Publication and metadata
- Publication date: September 4, 2024
- Pages: 41
- Volume: 2024
- Issue: 283
- Series: Country Report No. 2024/283
- DOI: https://doi.org/10.5089/9798400286186.002
- Stock No: 1ZAFEA2024001
- ISBN: 9798400286186
- ISSN: 1934-7685
- Subjects: External debt, Fiscal policy, Fiscal stance, Public debt, Revenue administration
- Keywords: Africa, Fiscal stance, Global, government operation, IMF team, IMF's transparency policy, inflation decline, per-capita GDP figure, Policy discussion, U.S. dollar

*International Monetary Fund. African Dept. "South Africa: Post-Financing Assessment-Press Release; and Staff Report", IMF Staff Country Reports 2024, 283 (2024).*

---

## Content in this bundle

- **1zafea2024001-print-pdf**
  - [1zafea2024001-print-pdf (Markdown version)](/-/media/files/publications/cr/2024/english/1zafea2024001-print-pdf.pdf.md){rel="alternate" type="text/markdown"}
  - [1zafea2024001-print-pdf (PDF)](/-/media/files/publications/cr/2024/english/1zafea2024001-print-pdf.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2024/09/04/south-africa-post-financing-assessment-press-release-and-staff-report-554545_