South Africa has a new president, Cyril Ramaphosa. He has reshuffled the cabinet bringing one respected financial minister back and asked another to run public enterprises. How should foreign central bankers and investors interpret these changes? And what does it mean for the central bank’s independence?
What you have seen in South Africa is a trend toward constitutionalism. South Africa has an unusual and not a proud history, where we emerged from a society that created a hatred of the