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Second State Of Disaster Declared Over Flooding

SOUTH AFRICA
  • South Africa declared its second state of disaster in just under a week in response to widespread flooding, which has damaged infrastructure and caused logistical issues. The latest state of disaster covers seven provinces affected by the adverse weather conditions. Further losses are expected as the South African Weather Service said that heavy rains are expected to persist. The declaration of a state of disaster will allow the government to cut red tape and facilitate spending on aid and reconstruction.
  • The Bureau for Economic Research called on South African leaders to resist pressure to change the SARB's mandate ahead of the 2024 general election. The idea was voiced by ANC Chairman Gwede Mantashe but President Cyril Ramaphosa later played down suggestions that the change was imminent.
  • There are no local tier-1 data releases today and the focus turns to January CPI and December retail sales, due tomorrow.
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