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Treasury will continue to help the South African Reserve Bank (Sarb) to acquire foreign reserves for the sake of stabilising the rand, Finance Minister Pravin Gordhan said on Wednesday.
"We have said before that we will give support to the Reserve Bank to accumulate reserves as and when we can. Over and above that, we will monitor this very carefully and we will review our stance as the times dictate," he told reporters in Parliament.
He said that the impact on the rand of a potential inflow of capital stemming from the World Bank's recently awarded $3,75-billion loan to Eskom was still unknown.
"We have just concluded it. No money has come in," the minister told reporters.
"We want a stable rand, a competitive rand... there are concerns around the world about financial flows and the appreciation of currencies in the developing part of the world but there is also a lot of thought being given to what does one do about it."
Asked about his view on the economic recovery, Gordhan said that the outlook was fair but risks remained.
"What if there is another Greece tomorrow? But generally there is an uptick. Every month I think that the prospects are getting better but the risks are still there."
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