EDITOR'S VIEW
RON DERBY: Desperate times as scramble for hidden treasure gathers pace
Raiding the coffers of the Public Investment Corporation (PIC) should confirm one thing - it's desperate days in SA. In years past, and, let us just say, before December 2015, access to funding, even for problem children such as SAA, would have been a much easier affair. There was a very willing market out there, to provide funding for what was a credible Treasury, despite concerns about the administration of Jacob Zuma. December 2015 is a clear marker for that loss of credibility. Until that point there may have been growing unease about just how the country was being run, but little more. The politics was bad, but that was the case with most emerging-market nations, Brazil at that time being the poster child. But on that December evening when the president decided in his " infinite wisdom" to surprise party, country and global markets with his decision to fire finance minister Nhlanhla Nene and destabilise the Treasury, the unease quickly spiked to panic. And it was from that mome...
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