China is holding the ‘switch’ in it’s hand, doing business with them is dangerous, with another Eskom crisis, China withheld the R7bn loan, they already own one Eskom plant, Load-shedding highly possible

Well, this doesn’t look too clever. It’s reported that Eskom will be R7bn lighter this month, after its Chinese lenders raised their concerns.

South Africa could be set for another round of drama from Eskom, as the ailing power utility has reportedly failed to receive R7 billion in loan payments initially set to come from the Chinese Development Bank (CDB).

That’s according to City Press, who have reported that the creditors do not trust their promises over proposed maintenance work. It would be the second time in just over two weeks that one of Eskom’s promised loans failed to materialize after the Brics New Development Bank also did not part with their billions.

Why haven’t Eskom received the loan?
On Easter Friday, Finance Minister Tito Mboweni was forced to grant the power giants an emergency bailout in order to meet salary demands and diesel costs. It’s reported that the CDB has taken note of their actions
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Knowing that the brightest employees in the Government are White, so now the Government wants public servants to retire at 55, just another sly move to get rid of white people

Johannesburg – The state has set the ball rolling in its desperate bid to cut the public wage bill by giving workers aged between 55 and 60 until September to retire without pension penalties.

Guidelines for applying for early retirement have been released to thousands of public servants. The Star has seen a copy of the guidelines and also learnt that unions and workers have started mulling the offer, which became effective from
April 1.

Teachers, police officers, prison warders, soldiers and intelligence service officers are among those targeted for penalty-free early retirements.

Reading the Budget Speech in February, Finance Minister Tito Mboweni announced plans to cut the national and provincial pay budgets by R27 billion over the next three years.

“The public wage bill is unsustainable. We must shift expenditure to investment,” Mboweni said in his speech.

But, in documents detailing the guidelines, the Departme
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Tito finds himself in a social storm after admitting that too many Africans were appointed to govern South Africa effectively

Finance Minister, Tito Mboweni finds himself in a social storm after admitting in a radio interview that appointments in government departments are not representative.

According to him, the country cannot be regarded as a democratic, non-racial, non-sexist community.

According to observers, he said tacitly that too many Africans were appointed who could not do the job. He further stated that state ownership should not be regarded as a religion and that the government should dispose of what is currently the economy.

Read the original article in Afrikaans on Die Vryburger

This report does not necessarily reflect the opinion of SA- news


 

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The ANC targets Reserve Bank mandate, they want a more flexible monetary policy

A review of the SA Reserve Bank mandate features in the ANC’s election manifesto, which brushes off the push for nationalisation, but instead drives for a more flexible monetary policy.

At the party’s election manifesto launch in Durban on Saturday, the ANC finally elevated the debate to possible government policy, some years after the status of the Reserve Bank became a contentious subject within the party.

The commitment has placed an obligation on the ANC to implement the decision should it win the May general election.

The Reserve Bank is a public institution but it has an independent mandate.

Echoing the delegates at the party’s 2017 Nasrec national conference in Johannesburg, the ANC’s manifesto states the Reserve Bank should pursue a flexible monetary policy regime, aligned with the objectives of the party’s programmes.

This was to be done “without sacrificing the price stability, but redirecting monetary policy
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With SA’s economy unable to grow by 1% under the current dispensation, Finance Minister’s new plans will also fail

Finance Minister Tito Mboweni has invested a huge meeting of so-called experts to come forward with new plans to reverse the country’s decline.

The event presented at the Reserve Bank Conference Center began with Mboweni’s explanation aimed at requesting experts to propose new models that will boost the economy.

He says the ANC cabinet has often had discussions on the subject, but observers say it is clear that the ANC is hopelessly ignorant to take any vigorous steps to stimulate the economy.

Even World Bank representatives are present, one of whom has new plans can only be recommended by those who succeed in identifying the errors.

Financial experts say the economic situation will not improve as the ANC continues its black-favored, ground-breaking theft, and poor management, along with large-scale corruption of all departments as well as entities such as Eskom and the SABC.

Experts point out that the ANC has held doze
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