PRETORIA (Reuters) – South Africa’s current account deficit is “not nearly as bad” as when it was considered part of the so-called “fragile five”, International Monetary Fund chief economist Maurice Obstfeld said on Thursday.

South Africa was one of five countries including Turkey, Brazil, India and Indonesia that got their name in 2013 when hints emerged that the U.S. Federal Reserve would end its easy-money policy.

(Reporting by TJ Strydom; Editing by Kevin Liffey)