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Lesetja Kganyago, head of the Reserve Bank of South Africa, warned that the nationalization of the central bank, which the ANC decided to make at its December conference, would be an expensive exercise which would take time and not necessarily produce the desired results. At the Reserve Bank's AGM in Pretoria, he told the Business Times that he did not think nationalization was a good idea
"Getting rid of private shareholders would not improve necessarily governance, "said the economist. We know that government-approved boards of directors do not guarantee GOO's governance and do not guarantee that decisions will be made in the interest of the broader economy, "he said.
Kganyago mentioned a group of shareholders the bank to be nationalized, seeing an opportunity to kill at the expense of taxpayers.
"This for what, at best, would be a superficial gain", was he said. 002] The ANC parliamentary caucus said in March that he had withdrawn his motion tabled in the National Assembly on the nationalization of the Reserve Bank of Africa. South (SARB), leaving questions on the continuation of their resolution of December.
READ MORE: The ANC withdraws its motion on the nationalization of the Reserve Bank
Kganyago has also had good news, and believes that South Africa should a recession, rather predicting a "modest improvement in growth" in the second quarter of this year.
But he also warned that SA's growth rate would be too slow to make our country. "
Kganyago also warned of the possible consequences of a year of global trade that Donald Trump's" America First "policy seems to want to promote – let's be realistic, the countries that will suffer the most will be small economies. emerging markets because they rely on the production of goods for sale in these advanced economies, "he said. He predicted
that the trade policy of the Trump administration has already caused a worldwide decline in trade.
At this week's Brics Business Forum, Chinese President Xi Jinping urged Brics Country to reject participation in a global trade war.
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