[miningmx.com] – SOUTH Africa was urged to cut its fiscal deficit and resolve its labour disputes in order to make it less vulnerable to external shocks.
In editorial published in the Sunday Times, Pravin Gordhan, the country’s finance minister, said: “The market reaction to any tapering-off of quantitative easing creates difficulties for national responses to the global economic crisis,’ Gordhan wrote.
“Any failure by business, government and labour to act together and decisively will have far-reaching negative consequences.’
South Africa has seen its currency slump 10% since May.
