Fin24

Zuma mulls over impact of euro crisis

2012-01-08 10:44

Johannesburg - President Jacob Zuma on Saturday raised his concerns with International Monetary Fund chief Christine Lagarde that the Euro debt crisis had far reaching effects, said presidential spokesperson Mac Maharaj.

"President Zuma raised a concern that Europe had taken long to solve its problems and how the impact of this was felt by developing countries like South Africa," said Maharaj.

The meeting with Lagarde, the Fund's managing director, had taken place on the sidelines of the African National Congress's (ANC) centenerary anniversary celebrations in the Free State.

Maharaj said Lagarde had commended the measures that South Africa had put in place to address youth unemployment as well as to address the environment conducive to increase investments.

The meeting had also focused on global economic developments in the coming year.