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Durban - The African National Congress will give its verdict on Friday on policies to tame a soaring rand and nationalise mines.
Delegates at a policy meeting said the party had not heeded calls from its left-leaning allies to sharply devalue the currency or allow the state to try taking over mines in the world's largest producer of platinum and fourth largest of gold.
The economic transformation committee at the party's National General Council, one of its most important political meetings in years, was expected to brief the media at about 09:00 on its decisions.
It seems unlikely the party will adopt a call from the largest labour federation COSATU, its governing ally, to tax short-term capital inflows to stem the currency's strength.
The rand has gained almost 26% since the start of 2009, unsettling policymakers.
The ANC, which has about two-thirds of the seats in parliament, has decided to speed up the introduction of a national health insurance scheme, raising concerns it may have to raise taxes to fund the expensive plan.
It also pushed for establishing a media tribunal to crack down on reporting it sees as unscrupulous. The idea has been widely criticised as a plan to muzzle the press and prevent investigative reports that expose corruption.
The most heated debates were over proposals made by former allies of President Jacob Zuma to nationalise mines, but the fight seemed to be as much about jockeying for political power as about economics.
The Youth League and Cosatu, who helped Zuma rise to the presidency but are now sniping at him, have both called for some form of nationalisation and delegates have been using the issue to pressure Zuma's government.
Zuma risks leaving the meeting in a weakened position and without a mandate for a second term if he cannot win back his supporters on the left or find new ones in the pro-business ranks of the highly splintered party, analysts said.
Delegates at a policy meeting said the party had not heeded calls from its left-leaning allies to sharply devalue the currency or allow the state to try taking over mines in the world's largest producer of platinum and fourth largest of gold.
The economic transformation committee at the party's National General Council, one of its most important political meetings in years, was expected to brief the media at about 09:00 on its decisions.
It seems unlikely the party will adopt a call from the largest labour federation COSATU, its governing ally, to tax short-term capital inflows to stem the currency's strength.
The rand has gained almost 26% since the start of 2009, unsettling policymakers.
The ANC, which has about two-thirds of the seats in parliament, has decided to speed up the introduction of a national health insurance scheme, raising concerns it may have to raise taxes to fund the expensive plan.
It also pushed for establishing a media tribunal to crack down on reporting it sees as unscrupulous. The idea has been widely criticised as a plan to muzzle the press and prevent investigative reports that expose corruption.
The most heated debates were over proposals made by former allies of President Jacob Zuma to nationalise mines, but the fight seemed to be as much about jockeying for political power as about economics.
The Youth League and Cosatu, who helped Zuma rise to the presidency but are now sniping at him, have both called for some form of nationalisation and delegates have been using the issue to pressure Zuma's government.
Zuma risks leaving the meeting in a weakened position and without a mandate for a second term if he cannot win back his supporters on the left or find new ones in the pro-business ranks of the highly splintered party, analysts said.
