'Alleged meddling at Treasury may further jeopardise SA's credit rating'

The resignation of National Treasury's head of budget is a signal of instability, says veteran journalist Pippa Green.

Michael Sachs has resigned amid reports of President Jacob Zuma's interference in the budgeting office.

Green says that Sachs has been a key figure in shaping economic policy.

Read: Any interference in National Treasury signals instability - BLSA

She says his resignation is a significant loss and sign of the dangerous road on which Treasury is headed.

He's played a very constructive role in thinking about how to finesse policy to get growth, employment and better equity in the country.

Pippa Green, journalist and communications manager at Research Project on Employment, Income Distribution and Inclusive Growth (REDI)

If policy is being dictated from outside of the transparent budget process, it puts the head of budget in an invidious position.

Pippa Green, journalist and communications manager at Research Project on Employment, Income Distribution and Inclusive Growth (REDI)

Also read: Zuma's rumoured free education plan could be ploy for 2019, says Ralph Mathekga

Green says that alleged interference at the Treasury by outside parties could reduce investor confidence and further jeopardise South Africa's credit rating.

Take a listen to her analysis:


This article first appeared on CapeTalk : 'Alleged meddling at Treasury may further jeopardise SA's credit rating'


702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
How to overcome your terror of flying

How to overcome your terror of flying

Former flying phobic, Damon Beard chats to John Maytham about his 'Flying Without Fear' course coming to Cape Town next week.

De Lille: Delayed 'Day Zero' due to bolstered water saving, additional sources

De Lille: Delayed 'Day Zero' due to bolstered water saving, additional sources

Cape Town Mayor Patricia De Lille says the City maintains its call for residents to use no more than 87 litres per person per day.

Rachel Kalidass resigns from SABC Board

Rachel Kalidass resigns from SABC Board

SOS Coalition coordinator Duduetsang Makuse comments on reports that Alan Mukoki is the SABC's preferred choice as Group CEO.

CT Mayor announces Day Zero pushed back two months

CT Mayor announces Day Zero pushed back two months

Patricia de Lille held 10-minute press briefing, announcing the predicted date change to mid-May and details of collection points.

Any interference in National Treasury signals instability  - BLSA

Any interference in National Treasury signals instability - BLSA

The rand took a dive on Monday following confirmation that National Treasury's budget head Michael Sachs had resigned.

Zuma's rumoured free education plan could be ploy for 2019, says Ralph Mathekga

Zuma's rumoured free education plan could be ploy for 2019, says Ralph Mathekga

Political analyst Ralph Mathekga says rumors of free education are in line with Zuma's 'radical economic transformation' rhetoric.

Popular articles
Investing in increasingly wealthy Mauritius (Africa’s most functional democracy)

Investing in increasingly wealthy Mauritius (Africa’s most functional democracy)

Bruce Whitfield interviews Nikiwe Bikitsha, who is on a fact-finding mission in Mauritius courtesy of Standard Bank.

 Law Society concerned with announcement on LLB accreditation

Law Society concerned with announcement on LLB accreditation

The Council on Higher Education announced that four universities are at risk of losing their accreditation for LLB.

SAB urges public to stop abusing free water at Newlands Spring

SAB urges public to stop abusing free water at Newlands Spring

There have been several reports of abuse of the facility, with a number of people tapping far more water than is allowed.

6 ways the new UIF bill benefits workers

6 ways the new UIF bill benefits workers

The broadened bill will see those who lose their jobs receive money for a longer period when they apply for unemployment benefits.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?