As the country battles the pandemic, the World Bank loan will assist to boost the economy
The fact that Gigaba runs at a credibility deficit, may just be what sways ratings agencies to downgrade South Africa to sub-investment grade.
Malikane has been openly critical of the ANC and its recently intensified plans for radical economic transformation.
The new finance minister says the country is unlikely to meet a a growth target of 2.7% for the year given the protracted platinum strike.
The rand has declined after Pravin Gordhan was replaced as finance minister and new leadership appointed in the mining and energy ministries.
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/ 12 February 2008
A shocking new range of price increases were announced on Tuesday as Zimbabwe’s world-record hyperinflation spun further out of control, with charges for cellphone calls soaring by nearly 1 700%. The official National Incomes and Prices Commission said international calls were up to Z,2-million from Z 400 per minute.
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/ 29 January 2008
Chinese premier Wen Jiabao took a bullhorn in hand to encourage stranded passengers in the snow-bound city of Changsha, as unusually severe winter weather snarled transport throughout the south amidst the country’s worst power crisis.
The names of three banks and the word "stocks" beat "sex" to become four of the most Googled words in China last year, according to a Google China list seen on Thursday. China Merchants Bank, Industrial and Commercial Bank of China and China Construction Bank ranked second, third and sixth, according to a list supplied by Google China on its website.
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/ 27 December 2007
After a year which saw the official inflation rate surge to 8 000%, shelves run dry and opposition leaders beaten up, few people in Zimbabwe can wait to see the back of 2007. While President Robert Mugabe hopes to secure a seventh term of office in elections next year, he is unlikely to trade heavily on his government’s recent economic performance.
United States President George Bush will outline reforms on Friday to help struggling subprime mortgage borrowers and his central bank chief will deliver a speech which will be pored over for hints of a looming rate cut. Federal Reserve chairperson Ben Bernanke speaks on ”Housing and Monetary Policy” at around 2pm GMT.