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EM Thematic June 29, 2022 / 11:02 am UTC

Another Perfect Storm For South Africa: Load-Shedding And Strikes

By Francesca Beausang
The South African Reserve Bank's bullish Q1 Bulletin seems written in a different era. Q2 consumer confidence plunged to -25 in Q2, while the latest combination of Stage 6 load-shedding and strikes raises downside risks to our 2022 growth forecast of 1.6% and our year-end rand forecast of USD/ZAr 14.5.