MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

NBH Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Ramaphosa Sees Tough Questioning at Zondo Commission, Maintains Ignorance on Illicit Deals

SOUTH AFRICA
  • Some things that have emerged from Ramaphosa's appearance at the state capture commission
  • Roughly more of the same approach from Ramaphosa: denying taking part in illicit activities with the Guptas and spurious Prasa and Eskom coal contracts
  • He reasoned that although he had some awareness of questionable behaviour and thought about resigning, he believed he would do more good by remaining within the party and running for president to root out corruption from within
  • He also said that he pushed back against controversial appointments under Zuma such as at the National Treasury
  • Interestingly, judge Zondo acceded to the DA's demands to disclose minutes of cadre deployment committee meetings. In response, Ramaphosa denies minutes exist - but this contradicts the ANC's court papers in response to our court case. "
  • Ramaphosa ascribed the lack of minutes between 2012-2017 to poor recordkeeping. Said that as a party "on-the-go" the ANC often finds itself unable to record the minutes of each and every meeting.
  • Overall, however, nothing too damning from his testimony other than the cadre deployment minutes which could cause headaches for the ANC and Top 6 but not put Ramaphosa in any major trouble
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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