ISAAH MHLANGA: Alarmist predictions about the rand’s fall are wide of the mark
No plausible justification for saying the currency would crash to R60 to the dollar
Some commentators have boldly predicted that the rand will weaken to R60 to the dollar or, more simply, that the rand will crash, and that SA is closer to approaching the IMF for a bailout due to the current bleak economic prognosis.
On the rand crashing to R60/$, especially over the short to medium term, these commentators are outright sensationalist and have no plausible justification for such disproportionate levels. While economic growth remains at pedestrian pace, conditions are nowhere close to forcing SA to go to the IMF for a bailout. This is scaremongering.