| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mboweni: "amazing" response to
South Africa's syndicated loan |
South Africa's finance officials have been through the mill
in recent months. It has been hard enough to keep the country's
hardline economic policy on track in the face of slowing growth but
that was only one of a list of woes.
The situation has been worsened by the rand's collapse late last
year, political turmoil in neighbouring Zimbabwe, the
ever-worsening Aids disaster, Argentina's meltdown, a domestic
banking crisis and the global market downturn.
So it was hardly surprising that South African Reserve Bank
officials warmly welcomed the signing of a new $1 billion
syndicated loan in July as a strong show of support for the country
from the international financial community.
The new term loan, which was signed at a ceremony in London
attended by Reserve Bank governor Tito Mboweni, attracted total
subscriptions of $1.725 billion from...
