Power struggles weigh on South Africa, Internationalisation of the renminbi
Commentary: Power struggles weigh on South Africa
By Michelle Middleton in New York and Laura Ostrander in Boston
South Africa faces a deteriorating fiscal balance, high government debt and an inefficient and unreliable power grid. These formidable headwinds are stifling growth and deterring corporate investment. The extent to which they can be dealt with depends on the outcome of the 8 May election. President Cyril Ramaphosa is expected to win, but the size of his victory will determine whether he can make crucial reforms, as his main opposition comes from within his own African National Congress.
Read the full commentary on the website.
Podcast: The internationalisation of the renminbi – What now for the global international order?
Robert Dohner, senior fellow at the Atlantic Council, and David Loevinger, managing director of emerging markets at TCW Group, join Pierre Ortlieb, economist at OMFIF, to discuss the renminbi as an international reserve currency. Topics include where the demand for internationalisation is coming from, the currency’s role in the liberalisation of capital accounts, and challenges faced by investors on data and policy transparency.
Listen to the recording, or search for OMFIF on your smartphone’s podcast app.