Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

South Africa's Zuma says fiscal policy wont change after cabinet reshuffle

Published 04/04/2017, 05:56 AM
Updated 04/04/2017, 06:00 AM
© Reuters. FILE PHOTO: South Africa's President Jacob Zuma reacts during the launch of a social housing project in Pietermaritzburg

JOHANNESBURG (Reuters) - South Africa's President Jacob Zuma said on Tuesday the country's fiscal policy would remain unchanged after his cabinet reshuffle and that his ministers would reach out to international investors to assure them of this after S&P downgraded the country's credit level to "junk".

Zuma dismissed the respected Pravin Gordhan as finance minister in a midnight cabinet reshuffle on Thursday that shocked local markets and triggered protests from within his own party, business and opposition parties.

The rand pared some its losses after Zuma's remarks in a speech at a function held at state-owned Transnet.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.