1996-04-26: International Banking Department of the South African Reserve Bank
Last Modified Date:
2020-10-08, 08:18 PM
Media > Media Releases
At present there are major uncertainties in the South African foreign exchange market arising, inter alia, from reports on outstanding constitutional issues as well as from developments in the labour market. For purposes of providing information, the Reserve Bank wishes to draw your attention to the following press statement received this morning from President Mandela's Office:"The National Working Committee (NWC) of the ANC met on the evening of 25 April 1996 in an ordinary meeting attended by President Nelson Mandela as well as some ANC representatives in the constitutional negotiations.Amongst other issues, the meeting assessed progress in the negotiations and came to the conclusion that sufficient progress has been and is being made in the constitution making process. The ANC is confident that the new Constitution will be adopted within the set deadlines. The NWC examined specific outstanding issues on education, language and industrial relations and decided to pursue ways in which they can be resolved in the best interests of the country and the objective of social transformation. The NWC confirmed arrangements for a bilateral meeting between delegations of the ANC and the NP, led by President Nelson Mandela and F.W. de Klerk respectively to examine these questions. The ANC is in constant contact with its allies in the mass democratic movement and they are in broad agreement that solutions can be found to all these issues. The ANC is optimistic that strike and other such action will therefore become unnecessary. A meeting will be held as a matter of urgency with the major role players in the economy to further discuss the issue of industrial relations, as well as the attendant impact of the activities of both business and labour on the economy and the objective of social transformation."