LETTER: Grey-listing would turn SA red with wrath

The country is in real and present danger of being grey-listed by the international Financial Action Task Force (FATF), the global money-laundering and terrorist financing watchdog. This will have serious repercussions for the economy.

The effect of grey-listing is that the GDP of the affected country generally shrinks by about 1%. The SA economy is not well-equipped to deal with the consequences of grey-listing. However, grey-listing can be avoided if the cabinet takes three simple steps. It must, as a matter of urgency:

• Act on the resolution of the national executive committee of the ANC calling for it to effect radical reform of the criminal justice administration.
• Recognise the growing political consensus between ANC, DA and IFP that generates the necessary political will to effect the reforms needed now; and
• Publish draft legislation in the form of bills prepared along the lines suggested by Accountability Now last August, with such amendments as may please cabinet.

These three steps will spare the cabinet the wrath of the nation flowing from the indignity of being grey-listed for want of accountable and responsive leadership.

It was St Thomas Aquinas who pointed out that: “He who is not angry when there is just cause for anger is immoral. Why? Because anger looks to the good of justice. And if you can live amid injustice without anger, you are immoral as well as unjust.”

The time for dithering and delaying is over; decisive action on corruption is long overdue. It is also necessary if the cabinet does not wish to be the butt of the anger of the nation.

Paul Hoffman, SC
Director, Accountability Now

JOIN THE DISCUSSION: Send us an email with your comments to letters@businesslive.co.za. Letters of more than 300 words will be edited for length. Anonymous correspondence will not be published. Writers should include a daytime telephone number.