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Brief note intended as a more regular interface with our clients. The emphasis is to provide our interpretation of important economic events, such as South African Reserve Bank interest rate statements, and key data releases, including GDP growth figures.
A specific policy-related issue that keeps rearing its head, both domestically and internationally, is the debate around the need for and/or the role of government-owned financial institutions, particularly government-owned banks. At the recent ANC policy conference, delegates have given the government an ultimatum to ensure that a state bank is up and running within the next six months. In light of this resolution, this comment briefly unpacks the motivation for and case against the creation of a state-owned bank.
