T T Mboweni: Volatility in the currency markets and its impact on monetary policy Address by Mr T T Mboweni, Governor of the South African Reserve Bank, at the ACI meeting, held in Pretoria, 14 May 2001. * 1. *  *  Introduction  I would like to thank ACI for the opportunity to address you this evening.
The natural incentive for a promoter to deal with distress is to hold on to equity and control despite having no real equity left, and to stand in the way of all efforts to resolve the underlying project while hoping for an ‘Act of God’ to bail him out. Not all bankers and promoters succumb to these natural incentives but too many do.