BADGER
MICHAEL AVERY: Fiscal juggling act buys the state some time
It is better to use the GFECRA to cut debt, because these riches have attracted interest for some time
26 February 2024 - 05:00
There seems to be growing scepticism around the gold & foreign exchange contingency reserve account (GFECRA) rabbit finance minister Enoch Godongwana pulled out of his fedora.
The concern goes something like this: SA has — through economic mismanagement, muddled policymaking and rampant corruption — seen its currency depreciate against the dollar at a rate greater than the natural rate of weakness implied by the inflation differential between ourselves and the US...
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