African National Congress President Cyril Ramaphosa has called for an immediate ceasefire in the war between Israel, the United States and Iran. Speaking at the 14th Mpumalanga ANC Provincial Conference in Mbombela, he warned of lasting economic impacts on South Africa and other developing economies.
Cyril Ramaphosa, president of the African National Congress, addressed delegates at the 14th ANC Mpumalanga Provincial Conference in Mbombela on Saturday. He urged an immediate ceasefire amid the escalating conflict involving Israel, the United States and Iran, which has drawn in major oil producers such as Saudi Arabia, Qatar, Iraq, the United Arab Emirates and Kuwait.
Ramaphosa highlighted the turmoil's effects on global economies, particularly developing nations like South Africa. "That turmoil is going to have, and is already having, an impact on many countries, as well as people in our own country, because it is resulting in a great deal of uncertainty," he said. "It is resulting in economic challenges that are impacting us as well. As the war rages, prices of fuel and oil are just shooting through the roof."
He noted that rising costs for fuel, food and transport would drive up inflation, which had been tapering down. This could prompt the South African Reserve Bank to hike interest rates to control prices. The conflict's economic repercussions, Ramaphosa stated, would persist for some time.
