MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ANC Executives Discuss Energy Situation, Managing Coalition Governments

SOUTH AFRICA
  • Eskom announced that due to a slight improvement in the available generation capacity it will now alternate between Stage 3 and 4 load-shedding until further notice. This comes amid a meeting of the ruling ANCs National Executive Committee, during which Electricity Minister Kgosientsho Ramokgopa for the first time presented his 18-month plan to end the ongoing energy crisis, albeit questions remain about its implementation. Ramokgopa's powers are yet to be clearly defined, with Energy Minister Gwede Mantashe and Public Enterprises Minister Pravin Gordhan reportedly refusing to give up their prerogatives, such as procuring new energy (Mantashe) or financing and budgeting (Gordhan). The Sunday Times reported that Ramokgopa, Mantashe and Gordhan are planning to meet this week to iron our differences and break the deadlock.
  • The ANC's NEC also discussed political strategy for the 2024 election, as well as proposals to stabilise coalition governments across the country. The ANC said that it was open to working with all parties which align with its core principles, while slamming the opposition Democratic Alliance's "moonshot pact" designed to unseat the ruling party in next year's election. Meanwhile, the proposals for coalition law reform included limiting the number of no-confidence motions that can be tabled within a specific period or making the party with the highest number of votes lead the executive.
  • Barclays said they expect a 25bp rate hike from the SARB at the May 25 monetary policy meeting after an above-forecast CPI reading, which showed that inflation remains sticky. SARB Governor Lesetja Kganyago said that it is too early to tell "whether the slight uptick [in CPI inflation] we saw in February and in March suggests that it is a turn."
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.