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S.Africa's ANC does not want to tweak central bank mandate -top official

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01/12/2019 | 08:36am EST
South African President Cyril Ramaphosa speaks during the election manifesto launch of the African National Congress in Durban

JOHANNESBURG (Reuters) - South Africa's ruling African National Congress (ANC) does not propose changing the mandate of the central bank, the chairman of the ANC's economic transformation sub-committee, Enoch Godongwana, told Reuters.

The ANC had said in its 2019 election manifesto that it believed the South African Reserve Bank should take into account goals like job creation and boosting economic growth alongside its current focus on price stability.

"The intention is coordination between the monetary and fiscal authorities," Godongwana said with respect to the relevant passages in the manifesto. "The ANC is not proposing tweaking the mandate of the Reserve Bank."

(Reporting by Alexander Winning; Editing by Mark Heinrich)

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