GREAT START NOT
While the US and Japan are battling to weaken their currencies, Econometrix chief economist Dr Azar Jammine says South Africa is doing so by default through rand-lowering political utterances and actions that have been more effective than South African Reserve Bank interventions and New Growth Path policy initiatives. Political pressure has forced Anglo American Platinum to go slow on retrenching 14 000 mineworkers, First National Bank has apologetically terminated an advertisement campaign that was perceived to be antigovernment and South Africa’s Mineral Resources Minister, Susan Shabangu, told all and sundry at last week’s coal conference in Cape Town that the misbehaving Anglo American “child” had been made to conform with the added fringe benefit of Anglo American chairperson Sir John Parker arriving at her door for a chat. Great start not to 2013.
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