Mfuneko Toyana

UPDATE 2-South African finance minister calls for debt action to avoid IMF

25 Oct 2018

* Focus turns to rating agencies reaction (Adds Treasury director general, analysts)

Recession-bound South Africa sees wider budget deficits, low growth; rand dips

24 Oct 2018

CAPE TOWN South Africa predicted wider budget deficits and cut growth forecasts in a bleak budget on Wednesday that focused spending on infrastructure, manufacturing and agriculture to boost the recession-bound economy.

South Africa gets $35 bln in investment pledges towards $100 bln goal

10 Oct 2018

PRETORIA, Oct 10 South Africa has investment commitments of $35 billion as part of plans by President Cyril Ramaphosa to attract $100 billion over the next five years to revive the country's flagging economy, his economic adviser told Reuters on Wednesday.

South Africa's Zuma fired me for blocking Russian nuclear power deal: Nene

03 Oct 2018

JOHANNESBURG South Africa's Finance Minister Nhlanhla Nene told a judicial corruption inquiry on Wednesday that he was fired by former president Jacob Zuma for refusing to approve a $100 billion nuclear power deal with Russia in 2015.

UPDATE 4-Split South African central bank holds rates, exposing wider tensions

20 Sep 2018

* Bank cuts 2018 growth forecast to 0.7 pct (Recasts, adds ANC retracting comments on monetary policy)

Lower inflation eases pressure on South Africa's central bank to match EM hikes

19 Sep 2018

JOHANNESBURG, Sept 19 South African forward markets cut projections of a rate hike on Wednesday, after inflation fell, as investors bet the central bank would hold rates unlike some emerging market countries that have tightened policy to support weakening currencies.

UPDATE 2-S.Africa's manufacturing up but economy not out of the woods

11 Sep 2018

* Land reform plans unnerving investors (Adds business confidence data, analyst comment)

UPDATE 2-Ramaphosa says South Africa to recover from recession soon

06 Sep 2018

* Rand recovers some lost ground on current account data (Adds Ramaphosa, c.bank, analyst quotes, details)

Bond sell-off to deepen as South Africa slips into recession

05 Sep 2018

JOHANNESBURG, Sept 5 A surprise economic recession has brought a sharp focus on South Africa's shrinking revenue and mounting debt pile and could intensify a bond sell-off at a time the assets are reeling from nervousness over Turkey's economic woes.

UPDATE 3-South Africa in recession for first time since 2009; rand slumps

04 Sep 2018

* President Ramaphosa trying to revive economy (Adds details, context, analyst quote)

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