LETTER: Avoid coalition with IMF

Milton Shain’s article refers (“Dramas of 1930s raise red flag for ANC coalition with DA”, June 6).

A coalition between the DA and ANC looks unlikely at this stage, though strangely enough the pollsters found before the election that of all parties the DA was the party most voters most wanted as an ANC coalition partner — so much for the “will of the people”.

The ANC may not be able to stomach a DA coalition, but I imagine quite a few of the leadership will (or certainly should) recall with some nervousness the effect Des van Rooyen’s appointment as finance minister had on the markets.

If the EFF or MK are anywhere near the decision-making process in government all hell will break loose in the bond and currency markets.

The ANC may deny this in public, but an exchange rate of R40/$ would enforce a coalition with the IMF, which would be far worse for everyone in SA than one with the DA.

A government of national unity seems the easiest option, and President Cyril Ramaphosa always takes the easy way out if he can. Not sure it’s the best way forward, but it certainly wouldn’t be the worst.

Ian Ferguson
Via BusinessLIVE

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