2005-10-12,+Invitation,+IMF+Presentation+at+DBSA+Oct+12

Development Bank of Southern Africa

Dear Sir/Madam,

= **IMF's World Economic Outlook and the Regional Economic Outlook for Africa.** =

12 October 2005**
 * International Monetary Fund/ Development Bank of Southern Africa Development Dialogue

You are cordially invited to a joint DBSA/IMF dialogue on “IMF's World Economic Outlook and the Regional Economic Outlook for Africa”. The presenters will be David J. Robinson, deputy director of the IMF's Research Department and Abdoulaye Bio Tchané, director of the IMF's African Department.

The World Economic Outlook, September 2005 Edition comprehensively reviews recent global developments, forecasts, risks, and current policy recommendations. Question such as
 * Katherina has come and gone wrecking havoc on the oil markets; will there be a lasting impact?
 * How will Global Imbalances Adjust?;
 * According to the governor of the reserve bank the mandate of the reserve bank is to target inflation thus minimizing the social and economic cost of achieving price stability; improving the co-ordination between monetary policy and other macroeconomic policies; reducing uncertainty about the future course of monetary policy etc. But does Inflation Targeting really work in Emerging Markets?

The African Regional Economic Outlook on the other hand examines responses to exogenous shocks, growth performance and growth-enhancing policies as well as the effectiveness of regional trade agreements; and South Africa does indeed belong to many trade agreements e.g. Common Monetary Area (CMA); Southern African Customs Union (SACU) Southern African Development Community, SADC committed itself to the creation of a free trade area (FTA) when the Protocol on Trade was signed at the SADC Summit in 1996, Free Trade Agreement with the European Union; Peoples Republic of China/SA bilateral trade agreement, India/SA bilateral trade agreement etc. Mozambique preferential access agreement: Republic of China (Taiwan)/SA bilateral trade agreement etc. Are they effective in promoting pro poor growth?

These reports raise a lot of issues for debate, information and the 12 October September 2005 Development Dialogue presents a wonderful opportunity to share knowledge on the economic outlook of the region and the world. Lifted out of the plethora of themes presented by the reports are trade, skills development and functioning institutions as possible engines/catalysts of growth and poverty eradication.

Please attend, debate and share knowledge; Knowledge is power!

When: 	12 October 2005

Time:		10h30 – 13h30

Discussants: Mr. Mxolisi Matshamba; COO trade and Investment South Africa Mr. Tom Scott; Chief Economist DBSA Lunch:	13h45

Where: 	Auditorium Development Bank of Southern Africa 1258 Lever Road, Headway Hill Midrand South Africa (011) 313 3911

Yours sincerely

Josephilda Nhlapo-Hlope Senior Strategic Planner Corporate Strategy DBSA

For more information/to RSVP please call/e-mail:

Josephilda Nhlapo-Hlope Tel: (011) 313 3940 e-mail: josephildan@dbsa.org

or Thandeka Mhlanga Tel : (011) 313 3275 e-mail : thandekam@dbsa.org