Asks about impacts of Middle East energy shock on South African growth and inflation if conflict continues.
speaker1
speaker2
Acknowledges war as an unplanned shock but claims sufficient buffers exist to absorb it. Notes oil price increases will have inflation implications for South Africa as a price taker.
Asks about implications for South Africa's rising debt profile and ability to maintain debt stabilization pledge.
speaker1
speaker2
Commits to debt stabilization process but acknowledges need to account for nature of shocks. Cannot model shocks yet but hopes conflict lasts only weeks.
Asks if short-term fiscal pressures from conflict will crowd out structural reforms.
speaker1
speaker2
Structural reforms will continue regardless of short-term pressures; momentum is irreversible.
Asks if investors in London are less receptive to South Africa investment case due to war.
speaker1
speaker2
Investors met yesterday still maintain positive outlook for South Africa.
Asks about impact of higher global borrowing costs on South African economy.
speaker1
speaker2
Claims sufficient buffers built to sustain higher borrowing costs. Sees positive side: analysts expect uptick in commodity demand and prices, which would benefit South Africa as commodity producer.
Asks if rethinking debt issuance plans, particularly dollar vs local currency mix, due to dollar moves.
speaker1
speaker2
Will maintain 85% rand-denominated, 15% other currencies issuance ratio to manage forex fluctuations.
Asks about US trade relations and any improvements.
speaker1
speaker2
US is major trading partner; trade relationship must continue. Saw improvement late last year with attractive counterproposals from US.
Asks about Supreme Court ruling strengthening South Africa's hand.
speaker1
speaker2
Doesn't see how it strengthens position given existing 30% threshold.
Asks about measures to reduce high unemployment, particularly in manufacturing/auto sector.
speaker1
speaker2
Auto industry tricky as OEMs not based in South Africa but exploit AGOA advantages. Interest from China/India to set up plants. Unemployment rate dropping due to infrastructure spending shift.