LUKANYO MNYANDA: From hardly any debt to financial aid
No country has ever run to the IMF for help because it has been handling its finances well
The headlines all noted that the loan that SA secured from the International Monetary Fund (IMF) was a first for the country. Some noted that it was, at $4.3bn (about R70bn), the biggest granted to any country so far.
What’s not clear is whether this should be a source of national pride or shame. The consensus would tend to veer towards the latter, if for different reasons.