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Ruling party deciding whether Jacob Zuma should remain South Africa's president

The ruling party stated that although plans are underway to remove Zuma, no date have been fixed yet.

"We have not arrived at the decision that Zuma must go, or Zuma must not go", ANC Secretary General Ace Magashule told a news conference on the outcome of a four-day ANC meeting that ended on Sunday. "I would say Zuma will be gone in anything between 10 and 30 days maximum".

The election of Cyril Ramaphosa as ANC president has not yet seen the removal of Jacob Zuma as ANC president. He's also vowed to fight the graft that have marred Zuma's administration.

The call by Ramaphosa is came as authorities in South Africa launched an offensive against companies controlled by the Gupta family, businessmen friends of Zuma who are accused of unduly using political connections to win work with the state.

Globally, investors expect more forceful market direction to only return later in the week, notably when the European Central Bank announces its latest monetary policy stance on Thursday.

Critics of Mr Zuma both inside and outside the ANC have said he should step aside as soon as possible to allow the ruling party time to restore voter confidence ahead of national elections scheduled for next year.

"We concurred that long-standing structural challenges continue to weigh on growth in South Africa", Lagarde said in a statement, adding: "We consequently agreed that bold and timely reforms are needed to create an environment conducive to job creation and less inequality". "The clearest example of this is the sudden new appointment of the Eskom board with the Minister of Finance Malusi Gigaba and the Minister of Public Enterprises Lynne Brown reporting to Ramaphosa, while Zuma was not involved in the decision at all". Zuma and the Guptas deny wrongdoing.

The end to the United States government shutdown implied a shift to risk-on trade, said Rand Merchant Bank currency strategist John Cairns.

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