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Ramaphosa Says Arresting Putin Would Entail War With Russia, June CPI Eyed

SOUTH AFRICA
  • In an affidavit filed with the North Gauteng High Court, President Cyril Ramaphosa said that arresting Russian President Vladimir Putin would derail attempts to broker peace between Russia and Ukraine and would be tantamount to a declaration of war to Moscow. According to Ramaphosa, "it would be against our constitution to risk engaging in war with Russia." The matter was brought to the court by the main opposition Democratic Alliance (DA) in a bid to force to government to execute an arrest warrant issued by the International Criminal Court (ICC). Ramaphosa described the DA's move as premature, given that "no final decision has been made that [Putin] will in fact come to South Africa" for the upcoming BRICS summit.
  • Presidential spokesman Vincent Magwenya told the Daily Maverick that a special panel has concluded its probe into the so-called Lady R incident ("Russiagate"), i.e. allegations that a sanctioned Russian cargo vessel may have left a South African port loaded with weapons. The panel now has two weeks to finalise its confidential report before submitting it to the President.
  • The DA said that the instructions given by the ruling African National Congress (ANC) to Finance Minister Enoch Godongwana to discuss with the central bank how to contain inflation without raising interest rates further was a breach of the SARB's independence. The Finance Minister told Bloomberg that he was not in talks with the central bank on the matter.
  • The highlight of today's session will be the release of South African June CPI data at 09:00BST/10:00SAST. Headline inflation is expected to have eased to +5.5% Y/Y from +6.3%, returning to the SARB's +3%-6% target range for the first time since April 2022. That said, the central bank repeatedly emphasised that it wants to anchor inflation at the +4.5% mid-point. The SARB will announce its monetary policy decision tomorrow. May retail sales will cross the wires later today at 12:00BST/13:00SAST.
Political Risk BulletEM BulletHomepageBulletPolitical RiskEmerging Market News
Political Risk BulletEM BulletHomepageBulletPolitical RiskEmerging Market News

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