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Zuma under fire for sacking finance minister | Africa | DW.COM | 31.03.2017
Keywords: Jacob Zuma, South Africa,
The widely respected finance minister of South Africa, Pravin Gordhan, is fired leading to calls for the resignation of president Jacob Zuma, and a call for a no confidence vote in parliament by the opposition parties. The Rand drops by 5% after the news of the resignation. This news comes as South Africa's business community and the CEO initiative were making efforts to stabilize the rand and avoid new credit downgrades for the South African currency.
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Zuma under fire for sacking finance minister | Africa | DW.COM | 31.03.2017
DW.COM 03/31/2017
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Zuma under fire for sacking finance minister | Africa | DW.COM | 31.03.2017
DW.COM 03/31/2017
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Deteriorating prospects for foreign investment in South Africa for 2015. Economic growth is forecast by the IMF to remain below 2.5% for years till the power situation is tackled. Growth is estimated in 2014 at a mere 1.4%, not enough to reduce high unemployment of over 25%. Lower commodity prices for mining exports, and a decline in the value of the rand reduce any benefit from lower oil prices. The government of president Zuma is seen as ineffective in tackling power shortages, and making changes at electricity company Eskom which suffers from cash shortages.
Grouped Articles
South Africa Faces Credit Scrutiny Amid Blackouts
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Businesses Seek Out New African Frontiers
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Weak Power Grids in Africa Stunt Economies and Fire Up Tempers
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The Betrayal of Mandela’s Promise
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South Africa's currency, the Rand
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Grouped Articles
South African Economy Hit by Labor Unrest
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Corrosive Inflation Eats at Developing World
Wall Street Journal 02/11/2014
After Sharp Slide, Rand Seen More Stable
Wall Street Journal 03/13/2013
Wall Street Journal 03/25/2015
South Africa’s Rand Falls to Record Low After Finance Minister’s Dismissal
Wall Street Journal 12/12/2015
Wall Street Journal 01/12/2016
South Africa's economy 2014-2017
12/12/2015
Grouped Articles
South Africa’s Rand Falls to Record Low After Finance Minister’s Dismissal
Wall Street Journal 12/12/2015
Zuma under fire for sacking finance minister | Africa | DW.COM | 31.03.2017
DW.COM 03/31/2017
Moody's downgrades South Africa over politics, debt | News | DW | 10.06.2017
DW.COM 06/10/2017
End of Apartheid in South Africa? Not in Economic Terms
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South Africa Sees Fresh Start for Economy, With the Same Challenges
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Opinion | South Africa’s Zuma Leaves Behind a Broken Democracy
The New York Times 02/14/2018
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