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Johannesburg - South Africa's Finance Minister, Pravin Gordhan, said on Sunday after returning from the G-20 meeting in London that foreigners should invest in South Africa as they will get good returns.
"You will still get a good return from SA - so put more money here," was his message for foreign investors, in answer to a question from I-Net.
Gordhan said the G-20 meeting had noted that there are tentative signs of recovery in the global economy, albeit uneven across countries and regions.
He said concern was raised at the meeting about the need to ensure that countries work toward programmes that contribute to achieving balanced and sustainable growth, given that many countries have had to increase their deficit and debt levels to unprecedented levels and implement unconventional and conventional monetary policies.
"Such programmes would include a rebalancing of global demand," said Gordhan.
He said while the regulators in South Africa needed to be complimented for their diligent work as the crisis was not as severe in South Africa, new challenges are emerging which he intends dealing with and will start by setting up meetings between the private and public sectors on the financial system.
He noted, for instance, that talk had emerged at the G-20 of the need for a further change to Basel II.
- I-Net Bridge
