CAROL PATON: Will SA be able to live up to IMF commitments?
Finance minister and Reserve Bank governor have pledged spending cuts and freeze on public-sector pay to support the $4.2bn loan
Will SA wake up a new country today with a new resolve to clean up its act and live within its means?
With $4.2bn of IMF money in hand at a deliciously low interest rate of something like 1%, finance minister Tito Mboweni and SA Reserve Bank governor Lesetja Kganyago have committed us to living a clean life. The letter they have signed to support the loan contains the commitments they have voluntarily made to provide comfort to the IMF that SA will act responsibly to repay the debt.