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Dipping into SA’s foreign currency reserves requires parliamentary input and supervision
Questions need to be asked about the failure to use such funds when huge cuts were made to essential programmes, MPs told
17 March 2024 - 06:56
An economist has suggested that parliament should have been consulted by the National Treasury and the Reserve Bank before the two institutions agreed to withdraw R150bn from a special contingency reserve account to reduce some of the country’s debt.
Independent economist and researcher Dr Seán Muller says withdrawals from the country’s foreign currency reserves have left little room for parliament to conduct oversight of the bill that must be passed into law before the drawdown is finalised. ..
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