The ANC in Parliament has withdrawn its motion "on full public ownership on the South African Reserve Bank in line with international practice", which was due to be debated in the National Assembly on Tuesday. The reason for the withdrawal was "to allow for greater consultation within structures of the ANC and key stakeholders", Nonceba Mhlauli, spokesperson for ANC chief whip Jackson Mthembu, said. The discussion on the Reserve Bank was proposed by ANC MP Joan Fubbs, who proposed to discuss the full public ownership of the Reserve Bank while at the same time acknowledging "the role, mandate and independence" of the bank. DA finance spokesman David Maynier welcomed the withdrawal of the “mad motion” on the Bank’s “nationalisation”. “We have been told by Moody’s, who are currently in the country conducting a review ahead of a possible sovereign credit rating downgrade to junk status, that ‘any developments which cast further doubt over the independence and credibility of core institu...

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