South African governor warns against nationalisation
Call comes as Sarb’s senior lawyer accuses government ombudsman of lying under oath
South Africa’s central bank governor has advised the country’s government to drop its plans to nationalise the institution.
Nationalisation “could turn out to be a protracted legal process and a very expensive exercise for what would, at best, be a cosmetic gain”, Lesetja Kganyago warned on July 27. His caution came as the central bank’s top lawyer filed legal papers formally accusing South Africa’s top state-appointed ombudsman of having lied under oath.
“Some proponents of nationalisation
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Organisation
Hungary’s central bank completes carbon capture programme
MNB expects 75% reduction in emissions by end of 2025
ECB staff survey shows deteriorating mental health
Staff committee “definitely considering collective action”, chair says
MAS carbon emissions rise amid shift to greener investment portfolio
Equity and corporate bond climate exposures fall as rising air travel and data use drive up own emissions
Argentine candidate promises opposition seats on BCRA board
Massa promises to renegotiate IMF loan as country heads to the polls on October 22
Ex-governor issues stern warnings about planned RBA revamp
Debate over proposed changes to board structure escalates
Legal dispute pits Costa Rica central bank against financial supervisor
Regulator has refused to hand over credit data, and central bank has filed criminal charges
Costa Rica proposes strengthening central bank independence
Government wants to remove finance minister from board and change audit procedures
To govern well, manage ‘enterprise’ risk
Effective risk management should be governance-oriented and top-down; not operationally oriented and bottom-up, writes John Mendzela