Will South Africa have to go to the International Monetary Fund, begging bowl in hand?
There is no question the country’s economic situation is dire.
Investment is flowing out while corporates are hoarding their cash.
With state-owned enterprises needing more bailouts and another surge in the unemployment rate of over 29 percent, it looks increasingly like South Africa might need help from elsewhere.
IMF loan would only be a short-term solution to a long-term problem and, many would argue, South Africa would simply be borrowing from Peter to pay Paul.
Source – eNCA
