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Fears over IMF loan conditions

Government 1 month ago

The SACP’s Blade Nzimande said it was a mistake to take the loan.


07 Aug 2020
PREMIUM!
Fears over IMF loan conditions

IMF Managing Director Kristina Georgieva said the fund has received over 100 requests for aid from its members, and developing countries will need about $2.5 trillion to deal with the impacts of the coronavirus pandemic. AFP/File/Olivier DOULIERY

The R70.7 billion loan to South Africa by the International Monetary Fund (IMF) has sent tongues wagging as it is feared the fund will impose structural adjustment programmes that will force the country to abandon its leftist policies on land expropriation and the nationalisation of the Reserve Bank. The IMF would like to see “growth-enhancing structural reforms” implemented by Pretoria, something that some saw not as stringent as the structural adjustment programme. An expert on international relations, Dr Sithembile Mbete, did not think it would go that far, but said the IMF could request SA to abandon land reform in...

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