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For the IMF, SA is not a basket-case, but a serial under-performer
Despite the IMF telling the Bureau for Economic Research in South Africa last week that the country has not requested nor does it need a bail-out, the rumours persist. Reports suggest that investors like (Remgro chairman) Johann Rupert who has pushed the IMF line and business leaders like Mcebisi Jonas who has done the same may be using the spectre of a bail out to force the government to get a move on economic reforms. If anything, the IMF presentation outlook on South Africa may even be more disappointing than a bail-out.
Why an IMF intervention might not be a bad thing for South Africa
Marred by ideological and careerist factionalism, the ANC appears incapable of making sound economic policies. In the absence of a credible opposition party with sufficient electoral power to challenge the ANC, perhaps the IMF is best placed to help the ANC to discover 21st century economic consciousness.
The caucus is a crucial informal structure that keeps the ANC united on contentious issues in the parliamentary process. It serves as a vital link between the political directive of the governing party in Luthuli House and the complex workings of the National Assembly and the National Council of Provinces that requires lobbying and coaxing political opponents.Now, the ANC caucus will for the first time since the sixth Parliament was inaugurated, deliberate on an issue that has far-reaching implications for our constitutional democracy: the removal from office of Public Protector Busisiwe Mkhwebane.
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