Top US treasury official lauds SA's global clout

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Drake2007

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Global financial reforms needed close international partnerships, US Deputy Treasury Secretary Neal Wolin said yesterday in Johannesburg. On the last leg of a three-nation trip to sub-Saharan African countries, Wolin said he had met incoming Reserve Bank governor Gill Marcus and was scheduled to meet National Treasury director-general Lesetja Kganyago.

Wolin, who has just visited Rwanda and Tanzania, said South Africa "has a significant role" to play in the global reform process: "You come to the table with a great deal of credibility. Your banks are solvent and have been well managed with little exposure to toxic assets and South Africa's financial regulation is strong."

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Is it just me that thinks the rest of the world; USA in particular, is just full of sh*t.
 
Drake2007 said:
Wolin, who has just visited Rwanda and Tanzania, said South Africa "has a significant role" to play in the global reform process: "You come to the table with a great deal of credibility. Your banks are solvent and have been well managed with little exposure to toxic assets and South Africa's financial regulation is strong."[/I]


Is it just me that thinks the rest of the world; USA in particular, is just full of sh*t.
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What he says about the SA banking & financial services sector is pretty much true. We could do better though.
 
ponder said:
What he says about the SA banking & financial services sector is pretty much true. We could do better though.
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Tito "One Trick" Mboweni and Manuel did a sterling job of suppressing credit purchases - which may not always be good at boosting the economy but FICA and high interest rates were implement fortuitously and at the correct time. No one could have seen this recession coming, but those two saved this country from the brunt of the fallout.
 
alf101 said:
+1
We're doing ok there.
With our bank charges, our banks will never go bust.
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Yeah he seemed to miss the part about raping the customers through bank changes :erm:
 
Our banks are ok.

It's the rest of the world that is having trouble economically. You just have to look at Gold at nearly $1100 to realise there are some significant problems for the dollar, and similarly for the pound.
 
timgaul said:
Tito "One Trick" Mboweni and Manuel did a sterling job of suppressing credit purchases - which may not always be good at boosting the economy but FICA and high interest rates were implement fortuitously and at the correct time. No one could have seen this recession coming, but those two saved this country from the brunt of the fallout.
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FICA had to be implemented because of pressure from the EU.
 
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