Cosatu and the SACP deserve credit for opposing exchange control relaxation, Fawu said on Thursday.

The Food and Allied Workers Union said that exchange control had played a role in insulating SA from the global financial crisis.

"We call on the Reserve Bank Governor, Tito Mboweni, to give the Congress of SA Trade Unions and the SA Communist Party the full credit for having opposed exchange control relaxation — a position he considered populist until recently," Fawu said in a statement.

"In fact, we call on Tito Mboweni to apologize to the nation for claiming success on this front without acknowledging Cosatu and SACP," Fawu added.

The union condemned the SA Reserve Bank governor for "misleading the nation into believing that the retention of exchange control was prudent fiscal and monetary policy stances, voluntarily driven by him and the treasury alone without pressure and influence from our trade unions."

The union also said that Mboweni had taken above-inflation rate salary increases while telling workers not to demand increases more than the consumer inflation figure.

Sapa

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