Is South Africa in need of an IMF bailout?

The South African economy is in a dire situation.

With a contracting GDP, job losses in different sectors, state-owned entities burdening the fiscus, and unemployment on an all-time high, is South Africa approaching a fiscal cliff?

With all the doom and gloom, does the country need an International Monetary Fund (IMF) bailout?

Bongani Bingwa chats to Commentator and chartered accountant Khaya Sithole.

If the South African economy stays the way it is, and we continue to do things the way we have been doing, it is inevitable that you are going to raise your hand to ask someone to come and assist you.

Khaya Sithole, Commentator and chartered accountant

That form of assistance can come in multiple forms and the extreme version of assistance is an IMF bailout.

Khaya Sithole, Commentator and chartered accountant

He says the only way to survive an IMF bailout is for South Africa to stick to the terms of the loan.

Listen below to the full interview:


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