It is a great pleasure for me to deliver the feature address to the annual meeting of the Barbados Hotel and Tourism Association. This association along with the BTA and the Ministry of Tourism has worked extremely hard over the years and especially hard since 2001, to ensure the survival and the rapid growth of the sector.
The fact that various other currencies have weakened by more than the rand, or have been more volatile, does not mean that the Bank is unaware of the damage done by a depreciating currency to South Africa’ s economy via inflation, or, for that matter, to foreigners who invest in South Africa.