“BUILD­ING IN­STI­TU­TIONS TAKES TIME. DE­STROY­ING THEM YOU CAN DO OVERNIGHT.”

Finweek English Edition - - THE WEEK IN BRIEF -

− Pravin Gord­han, for­mer fi­nance min­is­ter, com­ments in a wide-rang­ing in­ter­view with Daily Mav­er­ick about his ax­ing and that of his deputy, Mce­bisi Jonas, which led two credit rat­ing agen­cies to down­grade South Africa to junk. The reshuf­fle had a “dis­rup­tive ef­fect on se­nior staff at the Trea­sury and the de­par­ture of Fuzile [long-serv­ing di­rec­tor-gen­eral Lungisa Fuzile] later this month would have a fur­ther neg­a­tive ef­fect”, Daily Mav­er­ick re­ported Gord­han as say­ing.

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