Gordhan: IMF funding rise won't hurt SA

Johannesburg - While changes to quotas at the International Monetary Fund could affect SA, there would not be a major impact via increased funding to help resolve the European crisis, according to Finance Minister Pravin Gordhan.

Speaking from Davos via a direct feed to a Gordon Institute of Business Science/Business Day conference, Gordhan said there was no longer any doubt about the seriousness of the eurozone crisis, the growth crisis, unemployment and inequality.

"We are still not out of the woods," he said.