ANNOUNCEMENT 27 Oct 2009In October 2009, the government of South Africa announced a rule change for commercial cross-border financial flows.
NUMBER OF INTERVENTIONS
Exchange Control Circular No. 13/2009: http://www.zeridium.com/pdf/SARB%20Exchange%20control%20Circular%20No.%2013-2009.pdf
WTO-UNCTAD-OECD Second Report on G20 Trade and Investment Measures, September 2009 to February 2010: http://www.oecd.org/daf/inv/investment-policy/44739159.pdf
On 27 October 2009, the South African Reserve Bank issued Exchange Control Circular No. 13/2009 that liberalised exchange controls. The circular proposes reforms to reduce red tape by, among others:
In addition, individuals are allowed to hold more foreign capital, and some restrictions on access to domestic credit by foreigners have been removed.