Rand strong because ANC-led tripartite alliance says Gwede Mantashe
By Khanyisa Tabata
16 November 2009
African National Congress secretary general Gwede Mantashe says the strong Rand is firmly in the sights of the ANC-led tripartite alliance.
The value of the currency is one of a number of issues to be tackled under a wider mandate the alliance team on macroeconomic policy wants to give to the Reserve Bank.
Mantashe says the rand was at a level that encouraged imports rather than exports, and was therefore deepening the economic crisis.
The Congress of South African Trade Unions has called for an immediate reduction in interest rates to three-percent.
16 November 2009
African National Congress secretary general Gwede Mantashe says the strong Rand is firmly in the sights of the ANC-led tripartite alliance.
The value of the currency is one of a number of issues to be tackled under a wider mandate the alliance team on macroeconomic policy wants to give to the Reserve Bank.
Mantashe says the rand was at a level that encouraged imports rather than exports, and was therefore deepening the economic crisis.
The Congress of South African Trade Unions has called for an immediate reduction in interest rates to three-percent.
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