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South Africa's opposition says Gordhan recall a setback for economy
March 27, 2017 / 12:00 PM / 7 months ago

South Africa's opposition says Gordhan recall a setback for economy

JOHANNESBURG (Reuters) - South African President Jacob Zuma’s decision to call Pravin Gordhan back home from an investor roadshow in London marks a major setback for the economy, the Democratic Alliance opposition party said in a statement on Monday.

Finance Minister Pravin Gordhan delivers his 2017 Budget Speech to Parliament in Cape Town, South Africa, February 22, 2017. REUTERS/Mike Hutchings/Files

The presidency earlier said Zuma had requested Gordhan and his deputy return immediately, without giving a reason. The rand fell by as much as 1.7 percent against the U.S. dollar, bonds tumbled and banking shares slid more than 2 percent on the news.

Reporting by Tiistesto Motsoeneng; Writing by Joe Brock; Editing by James Macharia

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