Over this period, all of these countries have had lower inflation and lower inflation targets than South Africa. Their headline inflation has averaged between 3.0% and 4.5%, whereas South Africa’s inflation has averaged about 6.0%. Of course, policy rates have moved up and down in all these Latin American countries over time.
Last year, the EU granted Ukraine, Moldova and Bosnia and Herzegovina candidate status. [15] And it launched the process to open accession negotiations with Albania and North Macedonia, while also becoming open to granting Georgia the status of candidate country, conditional on reforms. [16]  Conclusion Let me conclude. A series of shocks have dramatically changed the global landscape in recent years.