South Africa’s Finance Minister Pravin Gordhan Meets Ratings Agencies
Pravin Gordhan, South Africa's Finance Minister is meeting with several ratings agencies in an effort to show the world that, leaders from all sectors in the country are determined to spark a flare of growth.
Gordhan said, the investors were satisfied with South Africa's ability and eagerness to pay back its debts. He said that the main focus was surrounded around discussion regarding growth of the country.
He said, "Growth is the big concern ratings agencies have among us and if we can show that leaders across the board identify our problems in a similar way and are committed to the solutions, we can make interesting progress."
Leaders had assembled for spring gathering of the International Monetary Fund, World Bank and G20 in Washington.
He said that subject of structural reform was a central focus of discussions as the realization concerns were raised that monetary and fiscal policy were imminently reaching their limits of effectiveness in elevating the global economy from its sluggishness that mainly resulted from the post-recession era.
The major reforms that were relevant to South Africa were that of state-owned enterprises (SOE). However, last week's spat between Gordhan and Denel, the state arms maker did very little to convince the overseas observers that the unity of purpose which the finance minister spoke about has really happened.
New Zealand News
- Tesla offering new discounts & perks in China amid negative press
- Electric Vehicle Council slams Victoria Government for proposed punitive mileage tax on electric cars
- Chinese EV brand Ora unveils VW Beetle-inspired electric car Punk Cat
- Swapping personal car for e-bicycle saved over $50,000 in just 7 years: San Francisco woman
- Hyundai Motor Corp to create ultra-fast EV charging network E-pit in Korea
- Tesla pockets roughly $101 million in profit from sale of some of its bitcoins
- Norway’s ICE car sales decline as buyers making shift to EVs
- Pursang launches Retro-inspired E-Track Motorcycle for Euro 14,449 in Netherlands
- ElectReon successfully tests dynamic wireless EV charging system on public road in Sweden