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Analysis
/ 5 March 2024

Treasury puts the brakes on a left turn

By Sarah Smit
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Gettyimages 2021815484 594x594
Prior to Finance Minister Enoch Godongwana’s announcement, the proposal that the government draw down from the reserve account was dismissed by many as leftist badgering. Photo: Dwayne Senior/Bloomberg via Getty Images

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

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Tags: Alec Erwin, Analysis, ANC, Blade Nzimande, Enoch Godongwana, Gold and Foreign Exchange Contingency Reserve Account, Institute for Economic Justice, South African Communist Party, South African Reserve Bank, Thabo Mbeki

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