News 08:00

BULLETIN 11 December 8 am

Good morning. I am……..

In this bulletin:

# The IMF says the South African economy is showing resilience but remains constrained
# The DA says the government’s revival of the apartheid-era race classification is unlawful
# And cricket: The Proteas Women clinch the T20 series against Ireland

# The International Monetary Fund says South Africa’s economy is showing resilience but remains constrained by weak growth, rising debt, and slow structural reform. A team from the fund recently concluded an assessment of the country’s economic trajectory. The IMF says financial market indicators have improved, in part due to the shift to a lower inflation target and the exit from the Financial Action Task Force’s greylist. It warns that without credible fiscal consolidation, stronger institutions, and faster execution of electricity, logistics, and governance reforms, South Africa risks prolonged stagnation.

# The DA has expressed concern at reports that the Department of Employment and Labour has told employers to make use of the long-scrapped 1950 Population Registration Act when classifying staff by race. The Act, which the apartheid government explicitly used, was abolished in 1991. The DA’s Michael Bagraim says this instruction by the department is shocking and unlawful, and the party is already examining every legal avenue available to put an immediate stop to it:

# KwaZulu-Natal premier Thami Ntuli says his administration has been compelled to take difficult but necessary decisions to arrest unsustainable spending and chart a path toward stability. The premier unveiled a five-year financial recovery plan on Wednesday. Ntuli says they inherited serious fiscal pressure, including over ten-billion-rand owed to service providers, cash-flow constraints, and unfunded commitments carried over from previous financial years. He has reaffirmed the province’s commitment to fiscal discipline and transparency:

# President Donald Trump says the US military intercepted and seized a sanctioned oil tanker off the coast of Venezuela. This marks the latest escalation from the Trump administration, which has in recent months ramped up pressure on Venezuelan president Nicolás Maduro. The vessel, named the Skipper, was carrying Venezuelan crude. US Attorney General Pam Bondi says for multiple years, the oil tanker has been sanctioned by America, due to its involvement in an illicit oil shipping network supporting foreign terrorist organisations.

# Cricket: The third and final women’s T20 match between South Africa and Ireland was abandoned without a ball being bowled in Benoni on Wednesday evening due to heavy rain. The Proteas Women won the three-match series 2-0 with comfortable victories of 105 runs in the first match in Cape Town and 65 runs in the second in Paarl. The teams will now shift their focus to the three-match ODI series, which begins at Buffalo Park in East London on Saturday.

# And the financial indicators: The dollar trades at 16-rand-96-cents and the euro at 19-rand-84-cents. One British pound costs 22-rand-68-cents and Bitcoin trades at 89-thousand-863-dollars. Gold sells at four-thousand-213-dollars-36-cents a fine ounce and Brent crude oil is quoted at 61-dollars-99-cents a barrel.

Stay tuned for more news………….