*  *  *  Programme Director Chair and Directors of Lereko Ladies and Gentlemen All protocols observed The waves of the global financial crisis hit our shores as expected. The ferocity with which they hit our country was more pronounced than we could ever imagine. Fortunately, South Africa had built strong policy anchors. Nevertheless, the impact reverberated across the entire economy.
Tonight I would like to take you through our experience through the waves. I want to say a few things about the South African economy in the global financial crisis and its current European incarnation. In particular, I want to provide some perspective on the economy’s resilience to global shocks and how our macroeconomic policy settings enable the economy to weather global storms.