South Africa was part of the fragile five, along with Brazil, India, Indonesia and Turkey.
IMF chief economist Maurice Obstfeld says the country’s flexible exchange rate regime has served it well.
His comments come a day after Finance Minister Pravin Gordhan delivered his mid-term budget in Parliament , where he forecast a much wider current account deficit of 3,4% of GDP for this year.
Meanwhile, speaking to Talk Radio 702's Xolani Gwala after his speech, Gordhan refused to answer questions relating to the fraud charges levelled against him.
