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core Trea­sury per­son­nel have taken on se­nior roles in the na­tional fis­cal ap­pa­ra­tus or gone on to hold pri­vate sec­tor po­si­tions. Many are ANC mem­bers who worked with the party’s eco­nomic plan­ning depart­ment, which es­tab­lished an of­fice in Jo­han­nes­burg in the late 1980s. Manuel was ap­pointed its head in 1991.

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