The DA said it rejects threats to erode the independence of the central bank through nationalisation.
MIDRAND - The Democratic Alliance’s federal congress has adopted a resolution to protect the independence of the South African Reserve Bank .
It’s the antithesis of what the Economic Freedom Fighters have been advocating - to nationalise the bank. On Sunday, DA delegates meeting in Midrand agreed that the party has to avoid South Africa going down the same path as Zimbabwe.The EFF introduced its Sarb amendment bill to Parliament in 2018, but for more than two years, it’s not moved beyond the public comment stage.
Tabling the Reserve Bank resolution at the party’s federal congress on Sunday, the DA’s Ashor Sarupen said his party put the blame for poor economic growth and joblessness on the African National Congress’s policies."We saw how SARS was decimated and many other institutions, the public protector more recently. When you capture and decimate a reserve bank, you destroy an economy.
In passing the resolution, delegates agreed that the Reserve Bank’s only responsibility is monetary policy, and not trade, fiscal, or labour policy.
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