Gigaba reassures investors of political stability

File: Finance Minister Malusi Gigaba said Treasury and the Reserve Bank remain solid and independent. Photo: GCIS

JOHANNESBURG - Finance Minister Malusi Gigaba says foreign investors and agencies should not panic over political uncertainty ahead of the ANC's December elective conference.

Gigaba was speaking on the sidelines of the International Monetary Fund meeting in the US.

He said Treasury and the Reserve Bank remain solid and independent.

"We all must not really panic, but take comfort in the fact that it's the democratic process as ANC members will express their democratic opinions," said Gigaba.

"We will continues as Treasury to pay attention to economy growth despite political stability.

"The institutions such as Treasury, Reserve Bank and others remain solid and independent and able to carry on wit their work as they should on daily basis."

Gigaba also said a decision is yet to be made on whether to request a loan from the International Monetary Fund to bail out state-owned entities.

"South Africa hasn't taken a decision that we're such a dire economic situation that we need to come to IMF to borrow any money."

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