Outrage as Public Protector admits she was wrong on Reserve Bank
In her papers‚ she admits the Constitution does not give bodies such as hers the right to "dictate" to Parliament
The Public Protector Busisiwe Mkhwebane's decision to back down on defending her recommendation that Reserve Bank do much more focus on keeping the currency stable has South Africans in a fury saying it shows she didn’t know what she was doing. Mkhwebane recommended that Parliament change laws to alter power of the Reserve Bank‚ moving it from managing the currency to focusing on economic growth. Her report had to be implemented or be reviewed and set aside by court. Her ideas led to the rand plummeting. The Reserve Bank‚ Finance Minister Malusi Gigaba and Parliament approached the court ‚ arguing she had overstepped her mandate. On Monday‚ her reasons given in her court papers are that she didn't know she didn’t have the power to convey a "mandatory review" by Parliament to change to the Constitution. In her papers‚ she admits the Constitution gives Parliament the right to change laws with a majority‚ but does not give bodies such as hers the right to "dictate" to Parliament. She h...
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