IMF head kicks off SA visit

JOHANNESBURG – IMF managing director Rodrigo Rato began yesterday his first visit to South Africa since taking the helm of the international lending institution three months ago.

Rato, a former Spanish finance minister, is to hold talks with President Thabo Mbeki, Finance Minister Trevor Manuel and Reserve Bank Governor Tito Mboweni during his two-day visit before travelling on to Burkina Faso for an African Union conference on poverty later this week. The head of the International Monetary Fund is also to meet with business leaders and representatives of civil society in South Africa, said spokesman David Hawley.”The focus here will be on economic conditions in South Africa but also because of South Africa’s own importance in the region, we will discuss broader issues, including a discussion about the fund’s role in low-income countries,” said Hawley.The visit is Rato’s second to the continent since becoming the IMF’s managing director in June.At a summit of African leaders in Uganda last month, Rato said rich nations must open up their markets to African products and cut subsidies that distort trade.-Nampa-AFPThe head of the International Monetary Fund is also to meet with business leaders and representatives of civil society in South Africa, said spokesman David Hawley.”The focus here will be on economic conditions in South Africa but also because of South Africa’s own importance in the region, we will discuss broader issues, including a discussion about the fund’s role in low-income countries,” said Hawley.The visit is Rato’s second to the continent since becoming the IMF’s managing director in June.At a summit of African leaders in Uganda last month, Rato said rich nations must open up their markets to African products and cut subsidies that distort trade.-Nampa-AFP