National Security and Exchange Control – the temptations of protectionism

1. The economic growth outlook in South Africa at present does not make for the rosiest picture. It was not more than a week ago that Standard and Poor’s (“S&P’s”) decided, thankfully, to hold off on downgrading South Africa’s long-term debt status from its current ‘BBB–’ rating to ‘junk’, i.e. below investment grade. The International Monetary Fund’s latest forecast of our economy’s growth outlook for this year is at 0.6 percent (with some forecasting even less than this), and global […]