Issued by: Government Communications (GCIS)
In response to queries which originated from the New York Stock Exchange, Deputy President Thabo Mbeki last night underlined that there was no truth in the rumours that the South African government intended to terminate the services of the Governor of the SA Reserve Bank, Dr Chris Stals and Deputy-Governor, James Cross.
"The Governor's term of office expires next year, and both government and the Governor are of one mind that he should and will serve his full term. We have full confidence in the leadership of the Reserve Bank", Mbeki said.
In the meantime, the President and the Deputy President are consulting with the Board of the Reserve Bank and other role players to determine the modalities of the transition leading up to Dr Stals' retirement. The public will be informed of decisions in this regard in due course.
1 July 1998
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