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1999

UNITED DEMOCRATIC MOVEMENT

MEDIA RELEASE


RESERVE BANK POLICY COMMITTEE MEETING

MEDIA STATEMENT ISSUED BY
 DR GERHARD KOORNHOF,  UDM SPOKESPERSON ON FINANCE

The UDM welcomes the first successful meeting of the Monetary Policy Committee of the South African Reserve Bank held yesterday.  The SARBís statement confirms the Bankís approach to keep to the economic fundamentals.  In its policy document the UDM has called for a more democratic monetary policy system.  We believe this will promote a balanced approach to monetary policy, taking inflation and currency levels and growth rates relative to other developing countries and emerging markets as norms.

The President of the SARB can go one step further and include on his Monetary Policy Committee other South Africans of stature and expertise on monetary policy.  This may enhance transparency and informed decision making.

ENQUIRIES
Dr GERHARD KOORNHOF
UDM SPOKESPERSON ON FINANCE

14 October 1999

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