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US Treasury Secretary Bessent faces market resistance as debt and yields rise
FAZ·US·2 days ago
The Nelson Mandela Bay ruling coalition has abandoned a proposed R23-billion write-off of Unauthorised, Irregular, Fruitless and Wasteful Expenditure (UIFWE) following intervention by the National Treasury. Opposition parties allege the reversal exposes internal governance failures and hypocrisy within the municipal leadership. It remains unclear if the coalition will face further fiscal oversight or political fallout from the failed policy attempt.
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