The Gold and Foreign Exchange Contingency Reserve Account is not a piggy bank that can be used to solve South Africa’s fiscal problems.
Debt service costs and civil servant wages account for 61% of total government spending, reducing budgets for, say, education, infrastructure and health
Understanding the market and a well-defined trading plan are essential for success
Some consider the decision to tap the forex reserve as a sign that the state can be swayed by the left. But the ANC-led government knows exactly how to neutralise progressive forces
South Africa’s debt-to-GDP ratio must drop below 60%, meaning some conditions have to be met – and ensuring state-owned enterprises are effective is a priority