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South African markets rally after Jacob Zuma picks 'safe' finance minister

Discussion in 'Market News' started by Lily, Dec 14, 2015.

  1. Lily

    Lily Forum Member

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    Former office holder Pravin Gordhan reappointed after tumultuous week in which rand plummeted to historic low

    South African markets have rallied after President Jacob Zuma re-appointed Pravin Gordhan as finance minister, although the move did little to quell criticism of the country’s leader.

    Gordhan became the country’s third finance minister in less than a week. He previously occupied the post from 2009-14, and is considered a safe pair of hands to guide Africa’s second-largest economy.

    Related: South Africa says #ZumaMustFall after shock sacking of finance minister

    Related: The Guardian view on Jacob Zuma’s economics: not prudent, and a danger for the future | Editorial

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