The Reserve Bank warns that should South Africa face sanctions due to its stance on Russia’s invasion of Ukraine, the economic fallout could be dire.
South Africa's non-aligned stance in the war in Ukraine is sparking concern at the Reserve Bank. It believes the decision puts South Africa at risk of secondary or indirect sanctions. The central bank says that such a situation would be catastrophic for the economy. Economist and policy analyst Chris Hattingh has more. #dstv403
JOHANNESBURG - The Reserve Bank committed to taming inflation - Kganyago In its latest Financial Stability report, the Reserve Bank cautions that the country’s financial system would be unable to function if its ability to make international payments in dollars were to be impeded. Should South Africa be banned from SWIFT as a result of secondary sanctions, these payments will not be possible.
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