Mboweni to assure investors at WEF about independence of SARB
Finance Minister Tito Mboweni says he will assure investors at the World Economic Forum (WEF) in Davos about the independence of the South African Reserve Bank (SARB) and the government’s intention to implement economic reforms proposed in his economic reform document geared towards boosting the country’s economy.
Minister @tito_mboweni to lead a Team SA at 50th annual World Economic Forum in Davos, Switzerland, 21-24 January 2020. pic.twitter.com/lZ3BCUHLJy
— National Treasury (@TreasuryRSA) January 14, 2020
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Mboweni’s comments on the reserve bank follow his tweets where he said that the ruling party’s resolution to nationalise the bank was a mistake.
As a long standing member of the ANC and its leadership structures, I know and understand our resolutions.I don’t need lectures on that.But on the SARB, I am convinced that we adopted a wrong resolution. What do we want to achieve?Our Strategic focus:Structural Economic Reforms.
— Tito Mboweni (@tito_mboweni) January 14, 2020
The African National Congress (ANC) lamented Mboweni’s comments saying he should at all times uphold and defend the resolutions of the ruling party.
@MyANC URGES LEADERS TO RESPECT CONFERENCE RESOLUTIONS AND TO REFRAIN FROM ENGAGING IN PUBLIC SPATS pic.twitter.com/IiW68yslBH
— African National Congress (@MYANC) January 15, 2020
Speaking at a media briefing in Rosebank, Mboweni says, “You said that they’ll ask about the South African Reserve Bank and I’ll tell them that the Reserve Bank is by virtue of the constitution is an independent central bank of the republic.”
Min Mboweni says #SAinDavos2020 is there to interact with African counterparts who’ll also be telling the African investment story. #WEF2020 pic.twitter.com/Vr2EpqX0KS
— GCIS Media Liaison (@GCISMedia) January 16, 2020
“But we’ll be honest to say that the pace of the structural reforms is not the way we want it to be, so we need to speed up the reforms,” explains the finance minister.
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Minister @tito_mboweni speaking @ #PreWEFBreakfast says wastage and corruption is the greatest threat to the stability of our fiscus position. #SAinDavos2020 pic.twitter.com/IkzkSe3BCE
— National Treasury (@TreasuryRSA) January 16, 2020
Min Mboweni says #WEF2020 is a place where you make your investment case as a country. #SAinDavos2020 pic.twitter.com/BWUhaux0PC
— GCIS Media Liaison (@GCISMedia) January 16, 2020
Source: SABC News (sabcnews.com)