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South Africa's Standard Bank says "deeply regret" Zuma's decision to relieve Gordhan
March 31, 2017 / 10:36 AM / 6 months ago

South Africa's Standard Bank says "deeply regret" Zuma's decision to relieve Gordhan

March 31 (Reuters) - Standard Bank Group Ltd:

* Standard Bank Statement

* Standard Bank Group Chief Executives’ statement on cabinet reshuffle and ministerial changes at national treasury

* Do not think there is enough evidence to comment usefully on effects of reshuffle as a whole on South Africa’s economic performance and development

* “Deeply regret” President’s decision to relieve Pravin Gordhan, Mcebesi Jonas of their offices

* It is probable that this financial shock will trigger economic weakness with consequences for job and income generation

* “These negative effects could be enduring unless urgent steps are taken to restore public confidence” in fiscal governance, rebuild S. Africa’s credibility in financial mkts Further company coverage: (Reporting by Rahul B in Bengaluru)

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