South African RB governor warns global economic recovery still years away

Johannesburg, June 27 (ANI): South African Reserve Bank governor Gill Marcus has cautioned it will take a number of years before the world gets back to more normal growth.

Speaking at a FM Top Companies awards function' she said there would probably be at least one or two more forms of the crisis before it could safely be said that recovery was sustainable.

Marcus said the world is in its sixth year of crisis: a crisis that has repeatedly mutated' with fiscal deficit and sovereign debt crisis.

According to news24, she said there will probably be at least one or two more forms of the crisis before it can be safely said that recovery is sustainable.

She added that as had been seen in recent days and weeks' the exchange rates of many emerging market economies had been impacted negatively by an outflow of capital, and this development could well mark the start of a new mutation of the ongoing global crisis. (ANI)

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