Best African Finance Minister: Manuel, South Africa
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Best African Finance Minister: Manuel, South Africa

Finance Minister and Central Banker of the Year: The regional winners


The first African National Congress minister of finance was appointed to the position on April 4 1996. Trevor Manuel may lack a conventional background but he certainly brings decisive political skills to the job.

His macroeconomic reform programme, Gear, is an example of Manuel's innovative style and his ability to push his plans through government. Gear's aim is a 6% growth rate and 400,000 new jobs by the turn of the century, along with improved social services. Coordinated regional policy is another aspect of the programme, with infrastructure projects such as improvement of the Maputo transport corridor planned.

Manuel, 41, was elected to South Africa's parliament in April 1994. Previously he had served as regional secretary of the anti-apartheid coalition, the United Democratic Front, and spent almost three years in detention for his anti-apartheid activities.

His strong political background has helped him become an effective force in government. He has pushed through spending cuts not thought possible a few years ago. Civil service salary increases have slowed and much social service expenditure has been put on hold until it can be financed more effectively.


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