Matambo warns SACU on Eurozone ripple effects

Officially opening the SACU 29th council of ministers meeting in Gaborone on Wednesday, Matambo said the Eurozone ripples could curtail growth prospects in SACU area. He said that while the projected growth rate for SACU's economies is not sufficient, the positive growth indicates resilience in the region.

"This meeting is taking place at a time when the global economic growth is showing signs of recovery, though challenges remain. The IMF has warned us that some weaknesses in advanced economies may slow the rate of global recovery. Recent developments in the Eurozone, particularly in Cyprus, raise further concerns about the pace of global recovery. As a region, we therefore need to keep a close watch on these developments and put in place measures to reduce their impact on our economies," said Matambo.