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DIRCO Reportedly Greenlighted Moving BRICS Summit To China

SOUTH AFRICA
  • News24 reported that the Department of International Relations and Cooperation (DIRCO) is "amenable" to moving the August BRICS summit to China. At least two ministers who were present at Wednesday's Cabinet meeting told the media outlet that one of the considerations was that South Africa has not spent too much money yet on preparations for the event. Changing the venue of the event would allow South Africa to avoid choosing whether to act on an arrest warrant issued by the International Criminal Court against Russian President Vladimir Putin. A legal opinion for the special inter-ministerial committee dealing with the issue reportedly said that it would be best if Russian leader did not attend the event should South Africa host it.
  • This comes after South African President Cyril Ramaphosa spoke with Putin by phone yesterday. The two leaders discussed preparations for the Russia-Africa summit, an African peace mission on the ongoing Russo-Ukrainian war, as well as the summit of BRICS leaders, but the readouts of their talks did not indicate whether Putin would attend the latter event in person. Ramaphosa's spokesperson told the Mail & Guardian that the presidency would be issuing its own statement about the phone call in due course.
  • Finance Minister Enoch Godongwana has permanently withdrawn Eskom's exemption from having to report irregular, fruitless and wasteful expenditure in its annual report and financial statements after the initial decision sparked widespread criticism. The official said that Eskom must do more to combat fraud and corruption before such a measure could be considered again.
  • South Africa's Q1 current account balance and April manufacturing production will cross the wires at 10:00BST/11:00SAST and 12:00BST/13:00SAST respectively. Economists polled by Bloomberg predict that current account deficit widened to 2.8% of GDP. Meanwhile, manufacturing output is expected to have expanded by 2.0% Y/Y.
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