The major socio-political reforms of the early 1990’s opened up the way for a normalisation of South Africa’s position in the world environment. Also in the field of economic and financial relations, South Africa has been reintegrated in the international community from which it was excluded over the preceding two decades.
Given the developments in the Euro zone where investors have punished countries for their fiscal position (we call this debt overhang problem or risk – the private sector believes taxes will be increased in future to affect resource transfers from the private sector to the Government to pay for high debt). It is imperative that I parade the Kenyan case to this esteemed audience.