Investors suspicious due to sudden dismissal of Minister of Finance

Concerns about financial stability South-Africa

The unexpected firing of the minister of Finance in South Africa last week has lead to many concerns about the financial stability of the country. The stock market took a dive, among other things. Around ten billion Euro of capital was wiped out. The head of the share market in Johannesburg fears that the stability of the economy of South Africa will be in danger in the long term due to the unrest.

President Jacob Zuma removed the minister from his post unexpectedly last Wednesday. This caused investors in South Africa to become suspicious.

The economy of the African country isn't going well at the moment and the solvency of South Africa is also at stake. The rand, the South African currency, has dropped to its lowest level ever. Zuma tried to reassure the markets by saying that the country will continue to uphold a sensible fiscal policy.

Source: Nu.nl

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