Tag: stalls

South Africa’s ANC Stalls Plan to Nationalize Central Bank

The headquarters of the South African Reserve Bank in Pretoria.

Photographer: Waldo Swiegers/Bloomberg

A top South African ruling party official said plans to nationalize the central bank will be shelved as the government wrestles with getting the coronavirus-stricken economy back on track.

The country doesn’t have the “massive resources” that may be needed to buy out the bank’s private shareholders and spending the money would be unjustified in the current economic climate, said Paul Mashatile, the treasurer-general of the African National Congress.

“We would not want to rush to go in that direction because there are other implications,” he said in an interview. “Our view is that we want these resources to be channeled rather to infrastructure projects.”

The ANC decided at a conference in 2017 that the state should take ownership of the South African Reserve Bank, one of a handful of central banks owned by

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Communities in U.S. rush to save Main Street as federal relief stalls

A man walks his dog past a placard stating “ALL SMALL BUSINESS IS ESSENTIAL” outside Atilis Gym on May 20, 2020 in Bellmawr, New Jersey.

Mark Makela | Getty Images

Last week, the U.S. Senate gave up the fight to save America’s small businesses. They walked away from negotiations that would have extended a lifeline to grass roots entrepreneurs on the front lines of one of the worst economic catastrophes in U.S. history.

But from Colorado to Ohio to Virginia, we have seen communities across the country stepping up where the federal government has failed. As we’ve been researching an upcoming book about the future of entrepreneurship, we have found cities dipping deep into strained budgets, turning to new technological solutions and coming together in creative ways to save their local businesses, lending hands and providing investment dollars to struggling businesses in their communities.

Communities are leading where the Trump

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