Ministers to discuss SA's economic woes
South Africa’s Minister in the Presidency, Jeff Radebe, announced during a post-cabinet briefing on Friday that Cabinet’s economics cluster would convene a special meeting next week to discuss the country’s credit rating and freefalling rand.
South Africa's credit rating was last week downgraded by Fitch to BBB-, with experts warning that we are heading for junk status in the near future. The announcement by President Jacob Zuma on Wednesday evening confirming the dismissal of Finance Minister Nhlanhla Nene, saw the Rand tumbling to record lows.
This meeting on Tuesday is being convened to deal with the matters of the economy. It is a continuation of discussions usually being held in Cabinet, especially now with this very bad economic climate we are under,” Radebe said.
Radebe notably did not mention a single word on the new Finance Minister, but Minister of Health Aaron Motsoaledi addressed the elephant in the room when he was asked a question during the briefing...
#PostCab Radebe says the appointment and removal of ministers is the prerogative of the President - the cabinet didn't discuss it. #Nene MV
— Jacaranda News (@JacaNews) December 11, 2015
#PostCab Radebe says this is a post cab briefing (Wednesday) - there wasn't a new minister yet - no way they could have predicted. MV
— Jacaranda News (@JacaNews) December 11, 2015
#PostCab Radebe says speaking for himself, cabinet had no idea that there would be a reshuffle - the president decides. mV
— Jacaranda News (@JacaNews) December 11, 2015
#PostCab Radebe asked how HE feels - his name is among those who might also be reshuffled - does he feel safe in his job? MV
— Jacaranda News (@JacaNews) December 11, 2015
#PostCab Radebe says it is the President's decision -Minister Motsoaledi also weighs in - says they all know they serve at will of president
— Jacaranda News (@JacaNews) December 11, 2015
(File photo: Gallo Images)