President’s economic advisor Trudi Makhaya resigns

[Nat Quinn]

Trudi Makhaya was appointed in April 2018 and ‘helped craft the administration’s key economic policy initiatives on structural reform, post-pandemic economic recovery and the just transition’, according to a statement from the presidency.

‘She led the technical steering committee that engaged with investors and coordinated the country’s flagship investment gathering, the South Africa Investment Conference.’

Makhaya also served as South Africa’s G20 Sherpa from 2019.

Ramaphosa thanked Makhaya for her contribution over the past five years.

Ramaphosa said: ‘Trudi’s steady counsel contributed to the evolution of economic policy-making since 2018 as government steered the economy through daunting economic headwinds, while building the case for investment and growth. We wish her all the best as she embarks on a new chapter in her career’.

In the statement, the presidency said that the President is in the process of appointing a new economic adviser.

The loss of Makhaya could not come at a worse time for the President and the country.

On Thursday the rand hit a new all-time low against the dollar. At 1.45pm on Saturday, the rand was standing at R19,44 to the dollar and R20,97 to the euro.

On Thursday the United States ambassador to South Africa, Reuben Brigety, said he was confident that a Russian ship had picked up weapons in South Africa last year.

The US assertion came at a time when investor sentiment towards South Africa had declined, as a result of the worst power cuts on record that show no sign of abating.

The government is opening an independent inquiry led by a retired judge into the allegation of an arms shipment to Russia.

JPMorgan on Friday said it now forecast a 0.2% decline in South Africa’s 2023 gross domestic product, versus a previous forecast for 0.3% growth, citing expectations for deeper power cuts.

 

 

source:President’s economic advisor Trudi Makhaya resigns – Daily Friend

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