Rebuild confidence and clean out the rot: Christine Lagarde’s message from the IMF to Cyril Ramaphosa
Ramaphosa is meeting several leaders on the sidelines of the World Economic Forum in Davos
SA needs to rebuild business confidence and clean out the rot. This is the blunt message delivered to Cyril Ramaphosa by International Monetary Fund (IMF) MD Christine Lagarde. The IMF boss met Ramaphosa‚ who is leading SA’s delegation to the World Economic Forum (WEF) in Switzerland in his capacity as SA’s deputy president‚ in Davos on Tuesday. The meeting came as the IMF this week cut SA’s growth forecast for the next two years‚ citing political uncertainty. Lagarde‚ who described their discussion as "fruitful"‚ said in a statement: "We concurred that longstanding structural challenges continue to weigh on growth in SA. We consequently agreed that bold and timely reforms are needed to create an environment conducive to job creation and less inequality. "Recent initiatives to improve governance and strengthen public institutions are steps in the right direction. "These efforts need to be sustained and be complemented both by fiscal policies that stabilise debt at manageable and sus...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.