The rand entered its fifth consecutive session of losses on Tuesday morning, leading emerging-market currencies lower while investors wait to hear the ANC’s plans to boost the economy.
“This will be interesting to see given the challenges facing the domestic economy at the moment, particularly fiscal constraints, begging the question, how does the party plan to fund the stimulus without putting SA into further financial trouble?” RMB economist Siobhan Redford said. “Note, however, that some NEC members have indicated that they need more time to form an opinion on the paper, which could lead to further delays in decision-making. The upcoming alliance political summit has been tabled as another forum for debate on the matter,” Mercato Financial Services analyst Nico Du Plessis said.
Don’t think this is accurate - simple to see when all emerging market currencies weaken by similar percentage against US$ on the day.
But but.... they owe us! Cyril said he’d appoint a committee! How much more do you want! A hearing? Ludicrous.