South Africa central bank governor sees upside risk to inflation outlook
24 April 2023 | 7:57 am
South African Reserve Bank Governor Lesetja Kganyago discusses the central bank's recent surprise move to hike interest rates and concerns about movements in the currency.
In this article
South Africa’s President Cyril Ramaphosa was forced this week to cancel a trip to Davos by an escalating energy crisis that is inflicting rolling blackouts on the continent’s most developed economy.
The government will remove regulatory hurdles to invest in new electricity infrastructure. Loadshedding has almost brought South Africa's economic growth to a standstill.
South African President Cyril Ramaphosa has declared a national "state of disaster" over the country's rolling power shortages. Energy provider Eskom says its ageing coal-fired power plants cannot keep up with demand and it's been imposing scheduled cuts. The blackouts are weighing on business activity and South Africa's economic growth.
The European Commission has revised its economic forecasts upwards slightly, predicting growth of almost 1% in the bloc for 2023. Inflation is expected to slow but remain high, a little more so outside the eurozone.
Relentless rains in South Africa have claimed at least a dozen victims with the bad weather forcing the government to declare a national state of disaster. It comes less than a year after the country’s deadliest floods. And, as the civilian death toll rises from rebel fighting in Eastern Congo, more people are seeking refuge in the North Kivu town of Goma.
The government in Buenos Aires has imposed price caps on many goods to rein in runaway inflation. While the curbs are welcomed among low income locals, economists doubt they will remedy the country's persistent problem.
Pretoria's Western allies are upset by South Africa hosting upcoming joint naval exercises with Russia and China. Historical ties between Moscow and the ruling ANC may explain President Ramaphosa's stance.
South Africa has begun military exercises with both China and Russia as part of a routine army drill. The joint training has drawn immense criticism from the West, coming nearly one year on from the start of the Russian invasion of Ukraine.
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A Russian ship loaded with hypersonic missiles will take part in joint naval drills with China off South Africa's eastern coast this week. But a Russian commander denied there were plans to fire the weapons.
South Africa captivated a home crowd with their run to the Women's T20 World Cup final. With women's cricket on the rise around the world, the time is now for Cricket South Africa to finally get on board.
Find these stories and much more when you grab a copy of The Guardian on Thursday.
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