(b)  Impediments to trade diversification  There are, however, other aspects of this potential conflict between stability and development. In this regard, I would like to draw on experiences from the Irish currency arrangement, which has strong similarities with our CMA arrangement.
Recognising the low level of saving (or high level of consumption) in this country, combined with the massive need of funds for financing of economic development, South Africa must obviously encourage the inflow of foreign investment capital into the country.