South African Reserve Bank policy expert speaks

UNIVERSITY PARK, Pa. -- Chris Loewald, head of policy development and research at the South African Reserve Bank, delivered a talk entitled "Emerging Market Macroeconomic Policy Formulation in the Face of Global Volatility: The Case of South Africa" on Monday, April 18, as part of the Penn State School of International Affairs Seminar Series.

Loewald spoke about challenges faced by emerging markets and what economic policies are needed to build a country’s economy. He specifically focused on South Africa, which faced challenges as an unstable market post-apartheid. For example, South Africa had issues of inequality, poverty, unemployment, and unsustainable macroeconomic policies.

He then gave an overview of what policies were needed to rebuild the economy, and how, as an emerging market, global events affected South Africa. The talk concluded with the current economic state of South Africa, followed by questions from the students.

Before joining the South African Reserve Bank in 2011, Loewald worked at the National Treasury on macroeconomic, fiscal, international economic, and growth policy, and served as the deputy director general for economic policy.