Sarb deputy governor fears for oil-exporting countries

Oil exporting countries ‘may experience significant capital outflows’

sarb
South African Reserve Bank

Certain oil-exporting countries will be "severely affected" if oil prices remain at current levels for an "extended period of time", which could elevate global financial stability concerns, warns Francois Groepe, deputy governor of the South African Reserve Bank (Sarb).

"Many of these countries may be downgraded by rating agencies and may experience significant capital outflows, particularly if the US economy recovers more strongly and if lift-off happens sooner or at a faster pace than markets

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