The rand, South Africa’s investor sentiment temperature gauge, held up well in the face of renewed US-China trade tensions and unfolding local election results.
Also encouraging was that Ramaphosa wasted no time in moving ahead on showing his commitment to policy reform when he announced the establishment of a policy and research advisory unit within the Presidency, over the weekend. But it goes without speaking that investors will need to see actual results within, say, the next six months if South Africa is to maintain its grounding and thus resilience in the face of any global economic surprises.
Moola warns that the best-case scenario for South Africa is a neutral global backdrop, but adds that there are risks that it could turn negative.On the establishment of the policy and research unit, she says any efforts to boost the government’s policy-making capacity are a positive, given that little attention has been paid to this since Thabo Mbeki was president.
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