Once again the spectre of underhandedness amongst South Africa's public officials has reared its ugly head. This time it was Public Protector Busisiwe Mkhwebane's off-the-wall recommendation to Parliament to change the Reserve Bank's constitutional mandate. Instead of the central bank's core role in protecting the value of our currency, its mandate would shift to protecting the socio-economic wellbeing of citizens.
Inasmuch as Mkhwebani's background lacks even less than rudimentary understanding of economic issues, it is highly unlikely she originated the recommendation to parliament. Rather it is more likely she was fed Marxist voodoo economics emanating from Minister Gigaba's advisors - a witches' brew of ill-conceived and unrealistic economic policies. Policies that Gigaba recognized could not publicly be advanced by Treasury, but which could, and have been set in motion to capture the Reserve Bank, one of the last bastions of stability and independence, with the cooperation of the Public Protector.
What other plausible explanation can one advance for the Public Protector's unwarranted interference in economic matters? Can't think of another one - can you?
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