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SOUTH AFRICA: Budget Compromise "Considered Within Reach" As Talks Go On

SOUTH AFRICA
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  • Bloomberg reported that the African National Congress (ANC) and Democratic Alliance (DA) are holding a series of talks to resolve the budget deadlock. The DA is said to have requested concessions, including the privatisation of ports and rail systems, expenditure re-prioritisation and tax relief for low-income earners in exchange for its support for the spending plan. People familiar with the matter told Bloomberg that "a compromise is considered within reach".
  • Veteran African National Congress (ANC) politician and Deputy Minister of Justice Andries Carl Nel has emerged as a frontrunner to become South Africa's ambassador to the US, according to a source report by Semafor. Pretoria is scrambling to fill the position after the US expelled its previous envoy, Ebrahim Rasool, and declared him persona non grata.
  • President Cyril Ramaphosa played down tensions in South African-US relations as "just a hiccup" and said that efforts to mend ties with continue, while the two countries "are united" in their desire to secure peace between Russia and Ukraine. Ramaphosa will host Ukrainian President Volodymyr Zelensky on April 10.
  • The National Treasury will sell ZAR1.25bn oof 8.25% 2032 bonds, ZAR1.25bn of 8.50% 2037 bonds and ZAR1.25bn of 8.75% 2048 bonds.
  • Minister in the Presidency Maropene Ramokgopa will discuss the Medium-Term Development Plan today.
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  • Bloomberg reported that the African National Congress (ANC) and Democratic Alliance (DA) are holding a series of talks to resolve the budget deadlock. The DA is said to have requested concessions, including the privatisation of ports and rail systems, expenditure re-prioritisation and tax relief for low-income earners in exchange for its support for the spending plan. People familiar with the matter told Bloomberg that "a compromise is considered within reach".
  • Veteran African National Congress (ANC) politician and Deputy Minister of Justice Andries Carl Nel has emerged as a frontrunner to become South Africa's ambassador to the US, according to a source report by Semafor. Pretoria is scrambling to fill the position after the US expelled its previous envoy, Ebrahim Rasool, and declared him persona non grata.
  • President Cyril Ramaphosa played down tensions in South African-US relations as "just a hiccup" and said that efforts to mend ties with continue, while the two countries "are united" in their desire to secure peace between Russia and Ukraine. Ramaphosa will host Ukrainian President Volodymyr Zelensky on April 10.
  • The National Treasury will sell ZAR1.25bn oof 8.25% 2032 bonds, ZAR1.25bn of 8.50% 2037 bonds and ZAR1.25bn of 8.75% 2048 bonds.
  • Minister in the Presidency Maropene Ramokgopa will discuss the Medium-Term Development Plan today.