NOW Ep 112: IMF Special | Signals from Washington

Loading player...
In this special IMF edition of No Ordinary Wednesday, Cumesh Moodliar, CEO of Investec South Africa, and Ruth Leas, CEO of Investec UK, unpack the signals from this year’s meetings in Washington – from the “three Ts” shaping investor sentiment (Trump, technology and tariffs) to the cautious optimism surrounding South Africa’s reform momentum.

Podcast key moments:
00:00 – Introduction
01:20 – What themes dominated conversations at the 2025 Investec IMF Breakfast?
02:57 - What’s top of mind for global investors and banking leaders
06:31 - The IMF has raised its global growth projection to 3.2% for 2025, how does this shape the mood among international investors?
07:17 - Is there more confidence among investors in the UK or is caution still the prevailing mood?
08:17 – How seriously are investors taking IMF global debt warnings?
10:37 - What message did SARB Governor Lesetja Kganyago deliver to the global financial community and how was it received?
13:10 - What was Investec’s message about South Africa to international financiers?
13:58 – Is investor sentiment on the UK is improving?
15:12 - What signals are you picking up about investment appetite in the UK and Europe?
15:57 - Is there evidence that SA’s reform narrative is gaining traction?
17:59 – Is the global economy on a more stable footing?

Read more on www.investec.com/now

Hosted by seasoned broadcaster, Jeremy Maggs, the No Ordinary Wednesday podcast unpacks the latest economic, business, and political news in South Africa, with an all-star cast of investment and wealth managers, economists, and financial planners from Investec. Listen in every second Wednesday for an in-depth look at what's moving markets, shaping the economy, and changing the game for your wallet and your business.
Chapters
  • 00:00 Introduction
  • 01:20 What themes dominated conversations at the 2025 Investec IMF Breakfast?
  • 06:31 The IMF has raised its global growth projection to 3.2% for 2025, how does this shape the mood among international investors?
  • 07:17 Is there more confidence among investors in the UK or is caution still the prevailing mood?
  • 08:17 How seriously are investors taking IMF global debt warnings?
  • 10:37 What message did SARB Governor Lesetja Kganyago deliver to the global financial community and how was it received?
  • 13:10 What was Investec’s message about South Africa to international financiers?
  • 13:58 Is investor sentiment on the UK is improving?
  • 15:12 What signals are you picking up about investment appetite in the UK and Europe?
  • 15:57 Is there evidence that SA’s reform narrative is gaining traction?
  • 17:59 Is the global economy on a more stable footing?
19 Oct 2025 English South Africa Business · Investing

Other recent episodes

No Ordinary Wednesday: IMF 2026 | AI, debt and the global investment outlook

AI investment is supporting growth, but its wider benefits remain uneven. Where will global capital go next, and what will businesses pay to access it? In this special edition of No Ordinary Wednesday, Cumesh Moodliar, CEO of Investec South Africa, and Andrew Lillywhite, head of bank funding group at Investec…
19 Oct 26 min

Macro Monday Ep136: Tech sector weakens after US inflation report

The war in the Middle East continues to weigh on markets and the economy, with second round effects showing up in US inflation numbers, notes Investment Strategist at Investec Investment Management Osagyefo Mazwai. The tech sector was the biggest loser in the days following the US inflation print.
19 Oct 10 min

No Ordinary Wednesday: Inside Investec’s investment outlook

The global economy is proving resilient, and company earnings remain healthy. Even so, Investec’s Global Investment Strategy Group has maintained a risk score of zero, reflecting a measured approach to portfolio positioning. The findings are published in the quarterly Global Investment View. On No Ordinary Wednesday, Chris Holdsworth, Investec Investment…
13 Oct 17 min

Macro Monday Ep135: The two sides to the AI investment boom

The AI story has been great for investors so far, but it may be making the Fed feel uncomfortable. AI investment is helping to fuel growth and inflation, potentially forcing the Fed to maintain a tighter policy stance – even though, says Global Chief Investment Officer Chris Holdsworth, the sectors…
12 Oct 5 min

No Ordinary Wednesday | Mini-Budget 2026: More revenue, less borrowing?

Stronger revenue offers an opportunity to reduce borrowing. Will spending pressures limit the gains? Ahead of the 2026 Medium-Term Budget Policy Statement (MTBPS), Investec’s Annabel Bishop and Tertia Jacobs to examine the choices facing National Treasury. Higher precious metals prices offer the prospect of better-than-budgeted tax revenue. But weaker growth,…
11 Oct 26 min