South Africa Proposes Fiscal Law to Protect Public Finances

• South Africa has proposed a new fiscal law to protect its public finances.
• The law aims to shield the nation's finances from future populist governments.
• The treasury's current projections show debt is set to decline for the first time in nearly two decades.
• Finance Minister Enoch Godongwana framed it as protecting 'hard-won gains'.
• The African National Congress, dominant since Nelson Mandela, is the party behind the proposal.