Monday, May 11, 2009
From Creamer Media in Johannesburg, I'm Amy Witherden.
Making headlines:
South African President Jacob Zuma made sweeping changes to Cabinet yesterday as he unveiled a team of 34 Ministers. This included naming longtime Finance Minister Trevor Manuel as Minister in the Presidency, heading up the National Planning Commission.
Zuma said that Manuel would drive through government's socio-economic vision and was picked for the post because of his experience of the inner workings of government.
Former South African Revenue Service commissioner Pravin Gordhan will replace Manuel in the Treasury.
Self-described "care-taker" President Kgalema Motlanthe, will be Zuma's Deputy President.
In international news, director-general of the World Trade Organisation Pascal Lamy says that international trade is part of the solution to the global food crisis and not one of its causes.
Global integration represented by trade enables food to be transported from where it could be produced efficiently to where there is demand.
Lamy maintains that international trade was not the source of last year's food crisis, but rather aided in reducing the price of food over the years through greater competition, and enhanced consumer purchasing power.
In an address to the International Food and Agriculture Trade Policy Council, Lamy said that to suggest less trade and greater self-sufficiency as the solutions to food security, would be to argue that trade was itself to blame for the food crisis.
Back home, Jacob Zuma was sworn in as South African President on Saturday after a remarkable political comeback.
Promising to help South Africans realise their dreams, Zuma took a sober view of the country's economy, which is heading for its first recession in 17 years.
In his inauguration speech, Zuma said that South Africa's difficult economic position must be acknowledged, as jobs are being lost in every economy in the world.
South Africans will not be spared the negative impact of the economic crisis, he said, and are beginning to feel the pinch.
One of Zuma's toughest tasks may be juggling the interests of trade union federation Cosatu and the South African Communist Party. Both these entities are believed to have been key in helping Zuma rise to the top. Investors fear the influence of such entities could see economic policy veering to the left.
Also making headlines:
The World Health Organisation maintains its flu alert at level five as H1N1 flu has not gained momentum out of the Americas.
Zimbabwe's Prime Minister Morgan Tsvangirai says that the country's unity government is on the right track despite residual differences.
And, the World Trade Organisation awaits the next move by the US in Doha Round of trade talks.
That's a roundup of news making headlines today.
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