'The minute the IMF loan arrives in central bank account it's gonna disappear'
The International Monetary Fund's (IMF's) executive board is set to meet in Washington on Monday to decide on whether or not it will approve South Africa application for roughly R70-billion in Covid-19 related emergency funding.
Economist and founding director at the Centre for Economic Development Duma Gqubule shares his views on the matter and what the implications may be.
This is a sad day for South Africa when we have to go beg to the IMF and it's the start of a slippery slope towards a fully fledged IMF structural adjustment programme, so I believe that this is the government politically preparing the country for a full on structural adjustment programme.Duma Gqubule, Economist and founding director - Centre for Economic Development & Transformation
I did speak to the IMF and they were saying that the conditions are that you have to explain how you're going to pay the money.Duma Gqubule, Economist and founding director - Centre for Economic Development & Transformation
The budget deficit this year alone is going to more than R700-billion, so the loan is less than 10 percent of the budget deficit of this year alone so the minute it arrives in the central bank's account, I think it's gonna disappear within a very short time.Duma Gqubule, Economist and founding director - Centre for Economic Development & Transformation
Click on the link below to hear the full interview...
Yes, restaurants are struggling, but that doesn't make it ok to shortchange staff says Wendy Knowler on The Money Show.Read More
Tax expert Thamsanqa Msiza (Tax Consulting South Africa) tells The Money Show what taxpayers need to check and be aware of.Read More
The wheels may be coming off for the substance gets us around the worldRead More
The Money Show's Bruce Whitfield interviews Kevin Lings, chief economist at Stanlib Asset Management.Read More
Since it launched in May, the scheme's helped only 6.6% of businesses it targets. Will recent changes lead to improvement?Read More
Branding expert Andy Rice explains why NetFlorist's radio campaign is his advertising hero of the week.Read More
The Money Show's Bruce Whitfield interviews Eskom's Linda Mateza about the once-off payment to its pensioners.Read More
Lungisa Fuzile (former National Treasury DG) tore into former minister Des van Rooyen's performance and choice of advisers.Read More
Studies across the world and industries consistently show women-entrepreneurs have a better risk profile, says Janeesha Perumal.Read More
National Consumer Commission director of prosecutions Joseph Selolo says you can't be naive or claim to be duped.Read More