Public Protector has had 'serious and detrimental effect' on economy, says Bank governor
'As long as it remains in place‚ it holds the risk of causing further rand depreciation‚ further ratings downgrades and further capital outflows'
Governor of the SA Reserve Bank Lesetja Kganyago on Tuesday filed an urgent application in the North Gauteng High Court to set aside remedial action proposed by Public Protector Busisiwe Mkhwebane in her report on the Bankorp bailout. Earlier this month‚ Mkhwebane presented her findings regarding her investigation into the SA Reserve Bank’s assistance to Bankorp between 1985 and 1995. Absa acquired Bankorp in April 1992.