IMF calls for SA to cut debt amid ‘fragile’ economic recovery
The fund says SA’s key metrics have deteriorated despite a bigger-than-forecast rebound in 2020
The International Monetary Fund (IMF) urged SA to pursue an “ambitious” fiscal consolidation to cut debt, as it warned that the economy remains vulnerable with key metrics having deteriorated despite a bigger-than-forecast rebound in 2021.
Coming a day after President Cyril Ramaphosa announced a one-year extension of the special Covid-19 social relief grant for the unemployed at an estimated cost of R50bn, the Washington-based lender, which completed a so-called Article IV consultation with SA in December, said in a statement on Friday that the country also needed to ensure protection for “the most vulnerable”. ..
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