, even when he occasionally smiles, resembles one of those tough hombres from old Western movies. As governor of the Reserve Bank, protecting the nation’s currency, he has to be. He is assailed from many sides, especially by the financially illiterate who think the Bank can create riches by cleaning up the town as if QE is the OK Corral. In the face of more power cuts, the Bank made a brave move raising its repo rate by a quarter of a percentage point to 7.25%.
has been reminding anyone who would listen that he is not the minister responsible for Eskom. But he can’t dodge responsibility for failing to renew a licence that helps keep the lights on. A few days before Christmas an energy agreement between South Africa and the US on nuclear co-operation expired. Without it, Westinghouse, the US corporation, is not allowed to supply Koeberg with nuclear fuel.
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