Dire implications for the country

2016-09-13 06:00

THE stand-off between Minister of Finance Pravin Gordhan and the Hawks has dire implications for our country.

The allegations that the minister knew about a rogue unit that operated within his earlier tenure needs solid evidence and maybe needs to be tested in our courts of law.

If the harassment of the minister continues, the already volatile rand is going to depreciate further, leading to the intensification of poverty. The possibility of a credit rating downgrade to junk status seems probable.

The timing of the investigation, just after the local government elections, seems strategic. This comes at a time after a recent Cabinet lekgotla that gives President Jacob Zuma control over spending in the state-owned enterprises. The actions of the Hawks have once again created uncertainties and instability in the South African financial markets.

When this happens, investors take their money out of the country, putting added pressure on the already volatile rand. The poor are affected the most as a result of increases in commodity prices. The minister needs to be left alone to do his job.

His apex priority is to avoid a downgrade by rating agencies. This cannot be achieved if his mind is unsettled.

Deputy President Cyril Ramaphosa has supported the minister, saying his integrity is unquestionable. He has also said that when a government works well, it should not wage war against itself. Let’s hope sanity prevails in the best interests of our country.

VIJAY SURUJPAL

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X

Inside News24

 
PARTNER CONTENT
INFOGRAPHIC: New thinking required for retirement

Everything we believe about retirement is fast becoming outdated.

/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.