S.Africa economic policies to offset c/a risks - government

(Reuters) - South Africa's economic position, including net reserves, will be adequate in dealing with risks associated with the country's huge current account deficit, a top treasury official said on Monday.

Speaking to Reuters after the release of the International Monetary Fund's (IMF) annual country report, National Treasury Director-General Lesetja Kganyago said that the finance ministry was not overly concerned about the current account.


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S. African Rand Headed for Weekly Gain on Outlook for Rates, Credit Rating

(Bloomberg) -- South Africa's rand headed for its
first weekly gain versus the dollar in six on speculation the
central bank will keep lifting interest rates and as concern
about the country's current account deficit wanes.

The rand is set to end its worst run in a year after Moody's
Investors Service said yesterday the country's credit rating may
be put on review for a possible upgrade in the next 18 to 24
months as concern on the current-account gap eases. The Reserve
Bank lifted its main rate to 9.5 percent on June 7, and Governor
Tito Mboweni forecast inflation will hold above the bank's target
in the second quarter.


Read more at Bloomberg Currencies News

Australian Current-Account Deficit Probably Shrank Last Quarter on Exports

(Bloomberg) -- Australia's current account deficit
probably narrowed in the first quarter as exports climbed and
companies paid less interest on their overseas borrowings.

The deficit, the broadest measure of trade because it
includes investment flows, narrowed to A$14.8 billion ($12.3
billion) in the three months ended March 31 from a record A$15.1
billion the previous quarter, according to the median estimate
of 22 economists surveyed by Bloomberg News. The Bureau of
Statistics releases the report tomorrow at 11:30 a.m. in Sydney.


Read more at Bloomberg Bonds News