President Thabo Mbeki of South Africa Resigns
Thabo Mvuyelwa Mbeki (born 18 June 1942) is a South African politician who served almost two terms as the second post-apartheid President of South Africa from 14 June 1999 to 24 September 2008.
He is also the brother of Moeletsi Mbeki. On 20 September 2008, he announced his resignation after being recalled by the African National Congress's National Executive Committee, following a conclusion by Judge Nicholson of improper interference in the National Prosecuting Authority (NPA), including the prosecution of Jacob Zuma for corruption. On 12 January 2009, the Supreme Court of Appeal unanimously overturned Judge Nicholson’s judgment but the resignation stood.
The 1994 government inherited an economy wracked by long years of internal conflict and external sanctions. Governments refrained from resorting to economic populism. Inflation was brought down, public finances were stabilised, and some foreign capital was attracted. However, growth was still subpar. At the start of 2000, then President Thabo Mbeki vowed to promote economic growth and foreign investment by relaxing restrictive labour laws, stepping up the pace of privatisation, and cutting unneeded governmental spending. His policies face strong opposition from organised labour. From 2004 onward economic growth picked up significantly; both employment and capital formation increased.