13 July 2017

South Africa: Let Us Open the Discussion Rather Than Close the Conversation

analysis

Cleopatra Mosana's simplification of the Public Protector's recommendation on the Reserve Bank's mandate as a costly and "binding" typo, is as unsettling as another phenomenon: alarmist market and media reaction to any debate about changes to the policy mandate of 370 Helen Joseph Street.

The furore around the Public Protector's recommendation on the Reserve Bank's mandate had her spokesperson, Cleopatra Mosana in a "tailspin". She likened the suggestion to amend the Constitution in relation to the mandate of the Reserve Bank to a "typo".

Mosana's simplification of a costly and "binding" typo, is as unsettling as another phenomenon: alarmist market and media reaction to any debate about changes to the policy mandate of 370 Helen Joseph Street. As with all all storms in China teacups, it is inevitable that we run the risk of losing sight of the crux of the debate. When this happens the fourth estate, the markets and all affected parties salivate at the prospect of the Public Protector making an about-turn on her "recommendation", or "binding" suggestion or typo if you like. What we miss, is the content of the recommendation; the questions it asks. Rather than interrogate the message, we attack the postman delivering it....

South Africa

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