From the beginning of 1999 until the end of January 2000 they again became net investors in South African bonds to the amount of R16.5 billion. Subsequently, from February to August, they again sold domestic bonds on a net basis totalling R12.5 billion.
Many hope that reinvigorated financial services regulation can provide at least a partial antidote to the adverse consequences of unfettered markets. But it has to be the right sort of regulation. Patrick Honohan summarised past problems acutely when he said, “..the style of supervision adopted did not generate the most relevant or useful information to anything near the extent required.