IMF chief Christine Lagarde said on Tuesday she had met with South African Deputy President Cyril Rampahosa on the sidelines of the World Economic Forum in Davos and they agreed that structural challenges were a burden to economic growth in Africa`s largest economy.
Their meeting comes a day after the International Monetary Fund cut South Africa`s growth forecast for the next two years, citing political uncertainty.
"We concurred that long-standing structural challenges continue to weigh on growth in South Africa," Lagarde said in a statement, adding: "We consequently agreed that bold and timely reforms are needed to create an environment conducive to job creation and less inequality."
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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