And as I will speak about in a few minutes, the Reserve Bank itself is using its balance sheet to keep funding costs low and credit available to both businesses and households. Without these strong balance sheets, we would have been in a more difficult position. I would now like to turn to the speed and nature of the recovery.
The Bank, through the SARB College (the College) continued to contribute to training in Africa by co-operating with international training institutions and central banks. The College hosted the residential segment of the IMF Financial Programming and Policies course, and a course for African countries on external vulnerabilities.