Archive for February 23rd, 2008

source: allAfrica
Business Day (Johannesburg)

22 February 2008
Posted to the web 22 February 2008

Linda Ensor
Cape Town

Rand weakness on budget day this week was due to “very heavy speculative attacks” on the currency rather than the announcement that foreign exchange controls were to be relaxed, Finance Minister Trevor Manuel told Parliament yesterday.

The minister’s comments were directed at concerns about the likely effect of the foreign exchange changes on the currency, which fell sharply on the news.

Manuel told Parliament’s finance and joint budget committees that there had been very heavy selling of the rand during Wednesday morning — hours before his budget speech that afternoon. He did not believe there had been any leaks of budget information.

“It was very clear we were subject to [continue reading]

source: allAfrica
Business Day (Johannesburg)

22 February 2008
Posted to the web 22 February 2008

Dumisani Muleya
Johannesburg

ZIMBABWE’s main opposition Movement for Democratic Change (MDC) criticised President Thabo Mbeki yesterday for “misrepresenting” the outcome of its talks with the ruling Zanu (PF).

The MDC said Mbeki’s report to the Southern African Development Community (SADC), which mandated the negotiations last year, was misleading. Mbeki said in his report the talks had succeeded save for “matters of procedure”, but the MDC said the dialogue had collapsed due to a deadlock on “substantive agenda issues”.

In making its statement the MDC has for the first time openly expressed frustration with Mbeki’s failed mediation [continue reading]