Timely warning about our habit of empty promises

05 September 2021 - 00:00

Heads of central banks tend to be sober, even dour and stern characters. They are not given to reckless talk, and largely avoid the hurly-burly of political debate — unless, of course, it starts to encroach on their territory.

That’s perhaps why we should take seriously the warnings they issue when they do speak up. Recently, South African Reserve Bank governor Lesetja Kganyago issued a caution that would have been drowned out by the incessant noise of South African life. Speaking at a business school event, Kganyago sounded the alarm against weaknesses in our approach to solving the problems facing us as a country...

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