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South Africa Finance Minister Pravin Gordhan cites mischief behind charges



South African finance minister Pravin Gordhan has dismissed fraud charges laid against him this week. Gordhan cites political mischief as being behind the charges and said he would carry on with his job, including delivering an interim budget at the end of the month. Gordhan is charged with fraud relating to his approval of early retirement of his former deputy, Ivan Pillay, when he was commissioner of the South African Revenue Service. Analysts say the fraud charges have fueled suspicions of a political plot to oust Gordhan. The charges caused fresh turmoil in South Africa’s financial markets this week, sending the rand more than 3 percent lower on Tuesday. However while speaking via video link Gordhan also said the economy was bottoming out and had every chance of expanding by more than 1 percent next year.


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