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Assessing and promoting civil and minority rights in South Africa.

[Source: Yahoo by Prinesha Naidoo & Mike Cohen for Bloomberg.]

Pressure is mounting on South African President Cyril Ramaphosa to stabilize the government’s shaky finances and rescue an economy teetering on the brink of a recession.

Since taking office in February last year, Ramaphosa has repeatedly pledged to ignite growth and reverse nine years of misrule by his predecessor Jacob Zuma. His ability to undertake reforms has been constrained by a ruling party faction that wants the government to play a greater role in the economy and by powerful labor unions opposed to state-spending and job cuts.

Warnings that South Africa is on a precipice have come from the International Monetary Fund, the World Bank, business executives and economists from Absa Bank Ltd. and other lenders. Even Tito Mboweni, Ramaphosa’s finance minister, has taken to Twitter to vent his frustration at the slow pace of reform.

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South Africa at a Glance
58 780 000 (mid 2019 estimate)
4.1% y/y in March 2020 (CPI) & +4.5 y/y in February 2020 (PPI)
-1.4% q/q (4th quarter of 2019)
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