In South Africa the Rand (ZAR) has rallied over 4% today as headlines on the appointment of a new Finance Minister also include some detail on how the new(old) finance chief will approach defending the credit rating of the country.
This AM Pravin Gordhan returned to the FM post as the 3rd FM in a week and President Zuma was forced to do some political maneuvering to save his own tenuous status. The headlines this AM so far signal the government will work to make debt payment and protecting their investment grade rating a priority.
For EM investors South Africa (EZA, quote) is clearly a test case for a handful of key commodity economies suffering under the weight of a commodity rout. South Africa is an example of what happens in Emerging Markets when the streets are paved in gold during the boom of a capital stampede in and how governments deal with not only the economic but political fallout that follows as fortunes turn.
The question is...
Subscribers log into your account and select menu item “Trade Ideas”.
- Chinese retiree becomes model ship masterSource: China.orgPublished on 2017-11-20
- Alibaba wins case over fake reviews, salesSource: China.orgPublished on 2017-11-20
- China plans to install, upgrade 64,000 toilets at tourist sitesSource: China.orgPublished on 2017-11-20
- Unique quarry hotel starts to take shapeSource: China.orgPublished on 2017-11-20
- Law curtails unfair app competitionSource: China.orgPublished on 2017-11-20
- Tibetans celebrate New Year after strong earthquakeSource: China.orgPublished on 2017-11-20
- Authority investigates TB outbreakSource: China.orgPublished on 2017-11-20
- Pension fund to get State assets boostSource: China.orgPublished on 2017-11-20
- Beijing orders city-wide investigation after deadly fireSource: China.orgPublished on 2017-11-19
- China expands smart court systemSource: China.orgPublished on 2017-11-19
- Xi calls on HK youths to serve HK, countrySource: Xi calls on HK youths to serve HK, countryPublished on 2017-06-30
- Chinese retiree becomes model ship master