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Economic Crisis Essay

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1. INTRODUCTION Pravin Gordhan has been fired again as the Financial minister of South Africa. President Jacob Zuma conducted a cabinet reshuffle in which Pravin Gordhan along with his deputy Mr Mcebisi Jones were both fired. This follows up after Pravin had been reinstated as the minister of finance for the second time. Because this caused a decay in the economic growth, the political party suffered as it had to conduct damage control as there was also unrest among the citizens of south Africa. This essay will argue against the president’s decision to fire Pravin Gordhan and his deputy, Mr Mcebisi Jones. Initially, this essay will be discussing the events that took place leading to the cabinet reshuffle in which the finance minister and his …show more content…

The reason given for this was that the rand had been decreasing for some time. Pravin was replaced by the former finance minister Nhlanhla Nene who was also eventually fired. This led to Pravin being reinstated his position as the financial minister. The firing and reinstating of the former finance minister Pravin Gordhan resulted in a further decline of the rand and of the economy. Recently the finance minister was fired along with his deputy Mr Mcebisi Jones. This however did not change the crumbling economy, in-fact it may have worsened things. There are many speculations for why the former financial minister was fired. The main one being that Pravin had denied signing the nuclear deal because it would have led South Africa deeper into debt. This may be true because South Africa would have had to borrow more money to establish the nuclear plant had the deal been signed. This speculation just shows that firing Pravin and Mcebisi was unjust as it was opening was for corruption activities to take place. Which leads to another speculation that states that the finance minister and his deputy were fired so the president could employ people he has a hold over, people who will take orders from him without second guessing the president and the consequences that might

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