Thursday, October 29, 2009
From Creamer Media in Johannesburg, I'm Amy Witherden.
South Africa will not abandon its inflation target simply because it is struggling to achieve it, said South Africa's Deputy Finance Minister Nhlanhla Nene yesterday.
The trade union allies of the country's ruling African National Congress are pushing for the 3% to 6% band, which they say has led to overly tight monetary policy, to be scrapped.
Finance Minister Pravin Gordhan said at the release of the Treasury's Medium Term Budget Policy Statement that the inflation targeting policy remained in place, but that debate over how best to tackle inflation will be intensified.
Nene told Parliament's Finance Committee that there will always be an anchor for inflation, and that this is not the time to change that policy.
The world must overcome differences over fighting climate change and agree on a United Nations (UN) pact in December without leaving any more than details for 2010, said Yvo de Boer, head of the UN Climate Change Secretariat yesterday.
"Time is running out," he said, adding that the Copenhagen conference "can and must agree the political essentials" for a strong long-term response to global warming. After Copenhagen, there will be a technical process in order to work out all the details.
However, some nations say that negotiations will be needed in 2010, partly because the US Senate looks unlikely to agree on climate legislation before the December meeting. Other rich nations may be reluctant to set cuts in greenhouse gas emissions without Washington's backing.
United Nations (UN) human rights expert Manfred Nowak has been deported from Zimbabwe after being detained by security officials on arrival overnight.
Nowak, the UN Human Rights Council's special rapporteur on torture and other cruel, inhuman or degrading treatment, was invited to Zimbabwe by Prime Minister Morgan Tsvangirai.
Renewed tensions have emerged between Zimbabwean President Robert Mugabe and Tsvangirai's Movement for Democratic Change party, which has stopped cooperation with Mugabe's Zanu-PF party in the unity government.
Also making headlines:
The Parliamentary Defence Committee is to ask Defence Minister Lindiwe Sisulu to probe military procurement.
Former Madagascar leader Marc Ravalomanana says that incumbent President and coup leader Andry Rajoelina must go.
The Democratic Alliance says that it has mixed feelings on the reshuffle of Tshwane's mayoral committee.
And, Kenya criticises a US travel ban on its top government officials.
That's a roundup of news making headlines today.