THE decision by Finance Minister, Trevor Manuel, and 10 other Cabinet ministers to quit their posts in solidarity with President Thabo Mbeki, who has been forced to resign will throw South Africa’s government into crisis.
Manuel was widely believed to be staying on to ensure financial stability as a new president took office and to reassure the markets that economic policy will not be radically altered by new ANC president Jacob Zuma, who owes his ascension to left wing allies in the trade union movement and the SA Communist Party.
Manuel’s departure will leave the ANC with a major headache. They will have to quickly find someone who can continue Manuel’s legacy. Perhaps Reserve Bank governor Tito Mboweni, who also enjoys credibility in the financial world and who has stayed out of the Mbeki-Zuma fight, will be the man to step into the breach.
Markets have already reacted negatively to Manuel’s departure, with the rand weakening on the news.
STATEMENT ON THE RESIGNATION OF MEMBERS OF CABINET AND DEPUTY MINISTERS
September 23, 2008
President Thabo Mbeki has, to date, received letters of resignation
from the following members of Cabinet which, regretfully, he has had to
accept:
1. Deputy President
2. Minister of Defence
3. Minister of Finance
4. Minister in the Presidency, Dr. Essop Pahad
5. Minister of Intelligence
6. Minister of Correctional Services
7. Minister of Public Enterprises
8. Minister of Science and Technology
9. Minister of Public Works
10. Minister of Provincial and Local Government
11. Minister of Public Service and Administration
The following Deputy Ministers have also tendered their
resignations:
1. Deputy Minister of Foreign Affairs, Mr. Aziz Pahad
2. Deputy Minister of Finance
3. Deputy Minister of Correctional Services
The resignations will be effective from the day that the President’s
resignation takes effect. All the Ministers have expressed their
availability to assist the incoming administration in the hand-over
process and any other assistance that might be sought from them.
President Mbeki thanked the Deputy President, the Ministers and the
Deputy Ministers for their dedicated service to the nation and wished
them well in their future endeavours.
Issued by The Presidency
Union Buildings
City of Tshwane
0 comments:
Post a Comment