Johannesburg - SA Reserve Bank governor Gill Marcus has
warned of job losses if current labour trends continue, the Dispatch Online
reported on Thursday.
“If we want to nurture a stable democracy, we need to behave
in ways that will create trust in our political, social and economic
institutions, and between social groups,” she said at Rhodes University, in
Grahamstown, on Wednesday.
"Such trust cannot be demanded, it needs to be earned
through appropriate actions and behaviour," Marcus was quoted as saying.
“During the current difficult times that we are experiencing
in our country, the building up of trust takes on even greater importance.”
Marcus said until a few weeks ago, large amounts of
investment still poured into the country. But wildcat strikes countrywide and
waning investor confidence led to R10bn equity leaving South Africa recently,
including R5.6bn on Monday alone.
The "volatile situation" created by strikes was contributing
to a “vicious cycle” of currency depreciation, slower growth and likely
increased unemployment, she said.
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