Looking at the right-hand-side diagram on the slide, the exercise entails that interest payments are smoothed, as in option 1, instead of remaining as they are now (the baseline scenario). What does such an exercise imply for the path of debt and gross financing needs?
Some comments on the South African banking system We would like to conclude this address as promised earlier, by making some comments on the South African banking system, and why it appears to have weathered the storm relatively well up to now.