Economy will probably go from bad to worse before ANC engages with IMF
Growth paths are elusive as our economic debates are warped by politics, while repairing the debt trajectory requires astute restructuring and policy reforms. The IMF’s advantage is that it deciphers economic woes and governance failures dispassionately. But will the lender of last resort deem SA’s politics incorrigible?
Global integration, and its benefits, have extinguished the concept of economic sovereignty. This era’s most formidable economic trends, technological advances and globalisation make adding value within global supply chains a non-negotiable for achieving rising prosperity. Yet SA continues to prioritise redistribution, which provokes an inward focus, so our per capita income has stagnated for a decade...
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