Deputy Minister of Finance David Masondo spoke to City Press last week after a function to launch the SA Revenue Service tax season.
“I don’t know how much it would cost. At this stage, I can’t say we can or cannot afford it. All I was saying is that if the amount is too huge and we cannot afford it then we need to make choices given the financial constraints we have. “The mandate of the Reserve Bank is clearly articulated in the Constitution – which is that we need to protect the currency and pursue price stability – in the interests of balanced growth.Regarding the R230 billion Eskom bailout announced by President Cyril Ramaphosa in his state of the nation address last month, Masondo said details regarding the bailout “would be tabulated in the Special Appropriation Bill”.
“National Treasury told the meeting that Eskom had experienced difficulty in servicing its debts and meeting its redemption requirements which could have had negative consequences for both Eskom and the national fiscus,” Parliament said.
Good question considering the money would have gone to the shareholders and not Eskom where it is needed. These people should understand the SARB doesn't need fixing mismanagement and their corruption. They must prove they can manage 1st by turning around the all other SOEs.
Why are we so obsessed with Reserve Bank when we have important issues that can save this country?
And we will forever be misled about the Reserve bank shares. At times we are told they aren't that worthy, other times we are told government might not afford them. Which is which exactly? SAReserveBank KganyagoLesetja
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