IMF warns that SA faces constraints in implementing reform
Fund commends government on governance efforts and says calls for improvement on business models of SOEs
While the government has ramped up efforts to improve governance, SA faces reform implementation headwinds, says a delegation from the International Monetary Fund (IMF). In a concluding statement released on Monday, which describes the preliminary findings of IMF staff at the end of a visit to SA, the fund said: “Some of the initial optimism has dissipated as growth remains stuck in low gear and reform implementation has faced constraints. “This is therefore a critical time to implement stalled reforms to restore confidence, attract investment, support growth, and rebuild buffers to deal with a challenging environment.” Reforms the IMF calls for include addressing remaining governance issues and improving the business models of state-owned entities (SOEs), revisiting labour market practices to create more jobs, promoting competition in all sectors of the economy to boost business opportunities and reducing uncertainty by clarifying some recent policy proposals, particularly on land ...
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