Negative side of IMF loan to SA

Going cap in hand to the International Monetary Fund (IMF) to bail out your country is nearly always a sign of government failure. Whichever way you look at it, the announcement that South Africa has secured a $4.3 billion (about R70 billion at current rates) loan from the global institution is not something to celebrate. The IMF is the “last chance saloon” for governments which have so mismanaged their finances that conventional banks run a mile before lending them money or do lend, but at punitive interest rates. That’s the situation in which our country finds itself … even before…

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