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IMF loan could provide Mboweni with leverage to push for reforms, says academic

Politics 2 months ago

Government, said Mbete, assured the IMF of ‘certain policy steps it was likely to take’, despite the loan being approved without conditions.


30 Jul 2020
PREMIUM!
IMF loan could provide Mboweni with leverage to push for reforms, says academic

Finance Minister Tito Mboweni briefing media on the announced economic support package | Image: Twitter/ @treasuryRSA

While there should be no cause for concern about any possible strings attached to the International Monetary Fund’s (IMF) $4.3 billion (about R70 billion) Covid-19 loan, the assistance could provide Finance Minister Tito Mboweni with the leverage to push for reforms, according to a leading academic. Conceding that the Covid-19 outbreak had led to “a sharp economic contraction and significant financing needs in SA”, the IMF extended the funds under the Rapid Financing Instrument (RFI) to support the government’s efforts to address the severe health and economic impact of the coronavirus pandemic. Dr Sithembile Mbete, a University of Pretoria senior...

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