Johannesburg | Friday
FINANCIAL markets should learn to differentiate between developments in one southern African country and another, Reserve Bank governor Tito Mboweni said on Thursday.
Mboweni was speaking at the University of South Africa after receiving the Department of Business Management’s award for excellence in managing the South African financial environment.
Referring to the depreciation of the rand, partly as a result of the current Zimbabwe land crisis, he said South Africa should be judged on its policies and not perceptions.
”Here in South Africa the political leadership has consistently stated that land reform will take place according to the law. I hope the market players are listening to what is being said.”
Mboweni reiterated his call for the land question in Zimbabwe to be resolved in accordance with the law and in an orderly fashion.
”The current state of restlessness in Zimbabwe should really be brought to an end to allow the economies of Southern Africa to stabilise.”
Mboweni again criticised PAC general secretary Thami ka Plaatjie for reportedly supporting Zimbabwean land grabs. These statements had done much damage.
”I appeal to the PAC to ensure that before he opens his mouth next time they should examine his verbal condition.”
Mboweni said pressures on the rand were overdone. ”The South African government has given clear and unequivocal commitment to the rule of law.
”Fears regarding any land reform programme in South Africa are unfounded. The best defence of the currency lies in the economic management of the country. South Africa pursues and will continue to pursue a prudent macro economic policy.”
Mboweni called on markets to judge South Africa on its policies.
”Our record is solid. Judge us for what we are and not for what it is thought we are”. – Sapa
23