Economists welcome SA's IMF donation
While the ANC's allies have criticised the government's decision to commit $2-billion to the IMF, the move has been welcomed by economists.
While the ANC's allies have criticised the government's decision to commit $2-billion to the IMF, the move has been welcomed by economists.
President Jacob Zuma, on his return from the G20 conference, says South Africa still has "a long way to go" to advance Africa's development goals.
South Africa has agreed to contribute around R16.6-billion to an International Monetary Fund "firewall" meant to prevent future financial crises.
Emerging giants are pressuring EU countries at the G20 to solve their debt crisis, with Beijing dangling $100-billion in rescue funds.
European leaders summoned Greece's prime minister to the French Riviera to restore calm ahead of a G20 summit after his shock call for a vote.
Opposing views about how to reform the global monetary system were laid bare at a meeting of the top 20 economies on Thursday.
Nicolas Sarkozy will on Wednesday welcome Jacob Zuma to France as a key player in Paris's plan to use its G20 presidency to reform world finance.
Bad blood between the world's 20 biggest rich and emerging nations has spilled over ahead of summit talks starting on Thursday.
G20 finance ministers will meet in South Korea this week to try to chart a new direction for the world's economy after a devastating downturn.
G20 leaders meeting in London this week will seek to agree global rules on remuneration in the banking sector, Gordon Brown said on Tuesday.
South Africa is considering granting credit lines for neighbouring Zimbabwe, President Kgalema Motlanthe said on Monday.
The UN called on Monday on rich nations to forge a deal that puts climate change and poverty reduction at the heart of efforts to reboot the economy.