Finance minister Enoch Godongwana has said that he believes South Africa can avoid greylisting.
According to BusinessLive, Godongwana disagreed with a report by Business Leadership South Africa (BLSA) that there was an 85% chance that the country would be greylisted by a global watchdog, the Financial Action Task Force.
Godongwana reportedly said that greylisting could be avoided if other stakeholders, and not just National Treasury, worked to evade it.
A report from the International Monetary Fund in 2021 found that greylisting resulted in a decline of capital flows equivalent to nearly 8% of GDP.
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