This publication results from the Development Centre’s Programme of
Work 2003-2004, in the context of its broader mandate to facilitate informal
policy dialogue between the OECD and non-member countries. It is part of an
OECD project entitled “Understanding Debt Costs in South Africa: What
Policies Could Narrow the Spread?”
This volume is part of an OECD project entitled “Understanding Debt
Costs in South Africa: What Policies Could Narrow the Spread?” which
benefited from the generous financial support given to the Centre by the Swiss
Agency for Development and Co-operation.
It draws on the discussions and presentations made at an experts’ seminar
organised by the OECD Development Centre in Johannesburg on 25 and
26 March 2004. This meeting benefited from the support of generous local
partners: the Bond Exchange of South Africa, Deutsche Bank South Africa,
Rand Merchant Bank and the World Bank country office in South Africa.
The editors would like to thank all those who supported the project that
gave rise to this volume, especially by organising the Johannesburg conference
on 25 and 26 March 2004: Tom Lawless, Mark Raffaelli, Graeme Brookes, Barbra
Graves, Gordon Smith, Dave Murray, Rudolf Gouws, Ettienne Le Roux,
Carolynne Waterhouse, Joandra Griesel, Fayez S. Omar and Matthew Stern.
They would also like to express their thanks to Brian Kahn, Greg Farrell, Brian
Kantor, Carmen Marchetti, John Muellbauer, Janine Aron, Torsten Slok, Rob
Davies, Helmut Reisen, Ulrich Hiemenz and Colm Foy for their comments
They also acknowledge participants in seminars at the 2003 Annual
Meeting of the African Econometric Society, the TIPS 2003 Annual Conference,
the 2004 OECD Experts’ Seminar on “How to Reduce Debt Costs in Southern
Africa?”, the Nuffield College’s Macroeconomics and International Seminar
and the South African National Treasury, for stimulating discussions.