The South African rand declined after President Trump criticized the nation, stating it confiscates farmers’ land and halting federal funding. South Africa’s leadership affirmed its commitment to bilateral relations with the US, showcasing resilience despite external pressures.
The South African rand depreciated following renewed criticisms from United States President Donald Trump. As of 5:45 p.m. in Johannesburg, the currency fell by 1.1%, trading at 18.2563 rand per dollar. Trump’s comments, made on his Truth Social account, claimed that the country is confiscating farm lands, despite no such actions having happened since 1994 when White-minority rule ended.
In addition to his criticisms, Trump announced a halt to all federal funding to South Africa and expressed intentions to provide sanctuary for farmers he alleges are fleeing the country due to safety concerns. On February 7, he executed an order to suspend all assistance and promote the resettlement of “Afrikaner refugees escaping government-sponsored, race-based discrimination.”
South African officials, including spokesperson Vincent Magwenya, asserted that the country would not engage in “megaphone diplomacy.” South Africa remains dedicated to fostering a beneficial bilateral trade, political, and diplomatic relationship with the United States. The backdrop of Trump’s comments also includes a statement from his ally, Elon Musk, who remarked that his Starlink business is unable to operate in South Africa due to the country’s race-based legislation.
Recently, South Africa received notification from the US about its withdrawal from a coal-transition agreement that involved a $1 billion commitment. Also under Trump’s administration, significant healthcare programs across the continent have been terminated. In response, South African President Cyril Ramaphosa, without directly addressing Trump, declared on February 6 that the nation will not be deterred and will pursue its own path with resilience and determination.
The South African rand has weakened due to President Trump’s renewed criticisms regarding land confiscations and funding cuts. Despite these challenges, South African leadership has affirmed their commitment to a constructive relationship with the United States and has emphasized the nation’s resilience in facing external pressures. As the political landscape evolves, the potential impact on bilateral relations remains to be seen.
Original Source: www.livemint.com
