BLSA warns government's indecision on Russia and Ukraine conflict could devastate markets
CEO Busi Mavuso said BLSA was worried that the indecisive approach by government has left the South African financial markets on a downward spiral.has criticised government's nonchalant stance on the Russia and Ukraine conflict, following allegations that South Africa supplied weapons to Russian forces.
“We are already seeing major ructions on our financial markets. As of today, the rand has lost about 5% of its value against the US dollar in the last few days, trading at 19.30. South African government bonds have been hit hard, with the benchmark R2035 yield spiking from 11.4% to 12.2% in the last two days.
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