S.Africa: Black Jew Ramaphosa phones Putin: RAMAPHOSA PEACE TALKS IN RUSSIA & UKRAINE TO LIFT STRUGGLING RAND?
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JOHANNESBURG – With reports that Ukraine has begun gaining ground against Russian forces in an anticipated counterstrike, President Cyril Ramaphosa is preparing to leave for the region to try to broker a peace deal.
South Africa has been coming under intense pressure from many quarters to affirm its neutral stance on the conflict.
This follows allegations that arms and ammunition were shipped from this country to Russia, claims that the government has strongly denied.
The local currency has begun to settle back to levels below R19 to the US dollar after plunging to almost R20 due to the claims of arms and ammunition being shipped to Russia.
With a formal investigation now underway and the president set to leave on Monday for talks with the leaders of both Russia and Ukraine, it’s hoped that the local currency will strengthen further.
But there is still the question of Russian President Vladimir Putin coming to South Africa for the BRICS meeting in August and whether an ICC warrant of arrest will be honoured.
Reports say there are behind-the-scenes talks to look at alternatives, including a virtual BRICS meeting but as it stands, nothing has changed.
In the meantime, economists are monitoring developments very carefully to see if the rand will receive another blow or perhaps a boost this time.
Source: https://ewn.co.za/2023/06/09/ramaphosa-peace-talks-in-russia-and-ukraine-to-lift-struggling-rand
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