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Lesotho–South Africa relations refers to the current and historical bilateral relations of South Africa and Lesotho. Lesotho, which is surrounded by South Africa, depends on South Africa for most of its economic affairs, and its foreign policy is often aligned with that of Pretoria. [ 1 ]
From 1998 until January 2004, he served as the Chief Director: Liability of the National Treasury. From January 2005 until May 2011, he was the Director-General of the National Treasury of South Africa. [7] In 2011, Kganyago was appointed Deputy Governor of the South African Reserve Bank, serving in that capacity from May 2011 until November 2014.
South Africa Deputy President Cyril Ramaphosa then took responsibility from Jacob Zuma's mediation efforts to get an agreement amongst the governing coalition. [12] Chief among the discussion was the re-calling of the legislature. As a result of the failure, South Africa called for an emergency meeting of the SADC.
In 2017, a whistleblower notified the U.S. Securities and Exchange Commission and US Department of Justice, alleging possible violations of the Foreign Corrupt Practices Act in awarding of a R1 billion (2015) (equivalent to R1.17 billion or US$88.54 million in 2018) [6] contract to the Oracle Corporation by National Treasury in 2015.
The Public Finance Management Act, 1999 (PFMA; Act No. 1 of 1999) is the primary public finance management law in South Africa. It delineates standards for expenditure, accounting, and reporting for public entities. Its scope is generally limited to entities of national and provincial governments.
Although the South African rand is legal tender across the CMA, the other member states issue their own currencies exchanged at par with it: the Lesotho loti, Namibian dollar and Swazi lilangeni. Foreign exchange regulations and monetary policy throughout the CMA continue to reflect the influence of the South African Reserve Bank.
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Lesotho [a], formally the Kingdom of Lesotho, formerly known as Basutoland, is a landlocked country in Southern Africa.As an enclave of South Africa, with which it shares a 1,106 km (687 mi) border, [8] it is the largest sovereign enclave in the world, and the only one outside of the Italian Peninsula.