This web page presents information about the work of the IMF in South Africa, including the activities of the IMF Resident Representative Office. Additional information can be found on the South Africa and IMF country page, including IMF reports and Executive Board documents that deal with South Africa.

South Africa and the IMF Country Page

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At a Glance

  • Current IMF membership: 190 countries
  • South Africa joined the Fund on December 27, 1945
  • Quota: SDR 3051.2 million
  • The latest Article IV consultation was discussed by the Executive Board on July 25, 2018 (Country Report 18/246)

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Office Activities

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Fraudulent Scam Emails Using the Name of the IMF

We would like to bring to the notice of the general public that several variants of financial scam letters purporting to be sanctioned by the International Monetary Fund (IMF) or authored by high ranking IMF officials are currently in circulation, and may appear on official letterhead containing the IMF logo. The scam letters instruct potential victims to contact the IMF for issuance of a “Certificate of International Capital Transfer” or other forms of approval, to enable them receives large sums of monies as beneficiaries. The contact e-mail information is always BOGUS and unsuspecting individuals are then requested to send their personal banking details which the scammers utilize for their fraudulent activities.
For more information please see Fraudulent Scam Emails Using the Name of the IMF

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IMF's Work on South Africa

  • Kingdom of Lesotho: Staff Concluding Statement of the 2024 Article IV Mission

    June 26, 2024

    Lesotho’s near-term economic outlook has improved modestly, with growth expected to reach 2.7 percent in FY24/25 on the back of strong construction activity, and inflation easing to 7.1 percent in April from its peak of 8.2 percent in January 2024. But Lesotho’s government-driven economic model is struggling to deliver on the authorities’ growth and development goals.

  • Central Bank Independence: Why It’s Needed and How to Protect It

    June 14, 2024

    While many central banks worldwide are under pressure, it remains clear that independence pays off in the long run. For many central banks, there is room to improve independence, and the IMF offers tailored tools that are used by central banks worldwide to strengthen independence, and ultimately policy credibility.

  • Transcript of IMF Press Briefing

    June 6, 2024

    Good morning, everyone, both to those of you here with us in person and those joining us online, welcome to this IMF Press Briefing. I am Julie Kozack, Director of the Communications Department. As usual, this briefing is embargoed until 11:00 a.m. Eastern Time in the U.S. I will begin with some announcements and then we will turn to your questions in person, on Webex, or via the Press Center.

  • South Africa: Fiscal Transparency Evaluation

    May 8, 2024

    Author/Editor:Carolina Renteria Rodriguez | Trish N Chiinze | Sage De Clerck | Foyzunnesa Khatun | Natalie Manuilova | Vincent Tang
    Series:High Level Summary Technical Assistance Report No. 2024/017

  • Harnessing Sub-Saharan Africa’s Critical Mineral Wealth

    April 29, 2024

    The region has an opportunity to develop critical minerals markets and processing industries to maximize the coming boom.

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Regional Economic Outlook

April 19, 2024

A Tepid and Pricey Recovery

After four turbulent years, the outlook for sub-Saharan Africa is gradually improving. Growth will rise from 3.4 percent in 2023 to 3.8 percent in 2024, with nearly two thirds of countries anticipating higher growth. Economic recovery is expected to continue beyond this year, with growth projections reaching 4.0 percent in 2025. Additionally, inflation has almost halved, public debt ratios have broadly stabilized, and several countries have recently issued Eurobonds, ending a two-year hiatus from international markets. However, not all is favorable and risks to the outlook remain tilted to the downside. The funding squeeze persists as the region’s governments continue to grapple with financing shortages, high borrowing costs, and impending debt repayments. Amid the challenges, sub-Saharan African countries will need additional support from the international community to develop a more inclusive, sustainable, and prosperous future.
Read the Report

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Departmental Papers on Africa

Africa Departmental Papers Cover The Departmental African Paper Series covers research on sub-Saharan Africa conducted by International Monetary Fund (IMF) staff, particularly on issues of broad regional or cross-country interest. The views expressed in these papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF Management.