The South African rand plunged more than five percent after President Jacob Zuma sacked his finance minister, a man widely seen as a competent manager of one of the world’s most important emerging economies. Finance minister Pravin Gordhan was ousted and ten new cabinet appointments made in a dramatic reshuffle that could split the ruling […]
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South Africa’s Finance Minister said Wednesday he would not appear before police as part of their probe into a spy unit formed while he was the country’s top tax man. Pravin Gordhan who was commissioner of South African Revenue Service (SARS) from 1999 to 2009 has faced allegations that the “rogue spy unit” spied on […]
Read More South Africa’s finance minister walks a tightrope on Wednesday as he presents a budget watched closely by ratings agencies that are on the verge of downgrading the country’s debt to junk status, AFP report. The International Monetary Fund and the World Bank predict South Africa’s growth this year will slide to less than one percent […]
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