https://www.polity.org.za
Deepening Democracy through Access to Information
Home / Statements RSS ← Back
Close

Email this article

separate emails by commas, maximum limit of 4 addresses

Sponsored by

Close

Embed Video

1

YCL: Statement by Gugu Ndima, Young Communist League spokesperson, opposing Pravin Gordhan’s view on the Reserve Bank (02/02/2010)

2nd February 2010

SAVE THIS ARTICLE      EMAIL THIS ARTICLE

Font size: -+

The content on this page is not written by Polity.org.za, but is supplied by third parties. This content does not constitute news reporting by Polity.org.za.

The Young Communist League of South Africa (uFasimba) notes and differs with the sentiment attributed to Pravin Gordan, Minister of Finance, about the autonomy and independence of the South African Reserve Bank (SARB).
We affirm our commitment to campaign for change in terms of the nationalisation of the SARB, and a subsequent review of its mandate. We welcome the call by the President of the ANC that we need to relook particularly at inflation targeting, and believe that the timing is appropriate for such a review.
The assertion by Minister Gordan that nationalisation of the SARB threatens its independence and autonomy does not hold, as there are many parastatals and institutions that maintain their independence but are still state owned.
We accept that the SARB derives its operational and policy mandate from Treasury, but we remain of the view that its nationalisation will complete its synchronisation with the developmental goals identified by the government of the day.
We also maintain that the SARB is too powerful an institution, and that its decisions have an impact on millions of jobs, mortgages, vehicle finance, basic foodstuffs, and essentially every bit of our life and cannot therefore be left to the whims of shareholders. We will continue with our call for and action to ensure that the SARB is ultimately nationalised, including engaging with Minister Gordan.

Advertisement

EMAIL THIS ARTICLE      SAVE THIS ARTICLE      FEEDBACK

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here


About

Polity.org.za is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Mining Weekly
Research Channel Africa

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Polity.org.za is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options

Email Registration Success

Thank you, you have successfully subscribed to one or more of Creamer Media’s email newsletters. You should start receiving the email newsletters in due course.

Our email newsletters may land in your junk or spam folder. To prevent this, kindly add newsletters@creamermedia.co.za to your address book or safe sender list. If you experience any issues with the receipt of our email newsletters, please email subscriptions@creamermedia.co.za