Lastly, it is unlikely to restore external balance if external demand is weak. The International Monetary Fund (IMF) has developed sustainable growth indicators which focus on policy, democracy, and governance as the drivers of growth. The policy component encapsulates economic policies, while the governance component relates to accountability.
This approach by the IMF enables a link between economic growth and the role of the South African Reserve Bank (the Bank) and bodies, such as the Institute of Internal Auditors, in fulfilling their respective mandates.