Ramaphosa Throws Support Behind New Finance Minister Gigaba Ahead of US Visit

PRETORIA – Deputy President Cyril Ramphosa says he is supportive of Finance Minister Malusi Gigaba and his team who are heading to the United States of America (USA) for the forthcoming International Monetary Fund (IMF) and World Bank Spring Meetings.

Minister Malusi Gigaba briefs Deputy President Cyril Ramaphosa ahead of his forthcoming visit to USA, 18 April 2017 (Photos GCIS)

Yesterday in Pretoria, Gigaba briefed Ramaphosa on his scheduled visit which will also include further interactions with rating agencies. Gigaba will meet with Moody’s which is the only international ratings agency not to have downgraded the country to junk status… although it has put SA on a 90 day review.

The Deputy President is the Chairperson of the Inter-Ministerial Committee (IMC) on reform of state-owned enterprises (SOE).

Ramaphosa said “we are very very supportive of the Minister and his team as they are going to showcase South Africa to the world.

“Particularly as the new Minister this is really great and exciting for us because the world will be seeing the new Minister and team that has always handled these matters. This is great and this is what we were talking about.”

The two men reiterated South Africa’s commitment to inclusive growth, poverty alleviation and speedy reform of state owned enterprises.

Gigaba recently briefed domestic investors as well as the NEDLAC Special Executive Committee, chaired by Deputy President Ramaphosa, on Treasury’s response to the current challenges facing South Africa following its downgrade to sub-investment grade by two rating agencies.

A high level NEDLAC task team has been established to co-ordinate SA’s efforts to respond to the current challenges. – SAnews.gov.za

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