The economic climate in South Africa was jostled to an even further degree as last week’s Presidential election lurched in to the midnight hour. With the failing to achieve a two-thirds majority victory, the opposition (and indeed foreign investors) may claim some small triumph, but in fact, this could adversely affect domestic spending due to political confidence.

Truly the financial woes of South Africa are still great, though the rand has currently rallied to a seven-month high. CNN’s Adrian Finighan today spoke with Dr. Matthew Phosa, Treasurer General of the ANC, about South Africa’s financial woes: