Why Southern Africa should not seek out the IMF for assistance

Why Southern Africa should not seek out the IMF for assistance

By Misheck Mutize

The view that Southern Africa should look towards the Global Monetary Fund (IMF) become rescued through the unfolding meltdown that is economic become growing each day. It was touted when you look at the most unlikeliest of places. Perhaps the new Finance Minister Malusi Gigaba, a proponent of this alleged radical financial change, has expressed willingness to activate the IMF.

There’s no question in regards to the seriousness of Southern Africa’s overall economy. The united states entered a technical recession after the economy contracted into the fourth quarter of this past year and very very very first quarter of the year. Jobless is apparently increasing to the 30% mark.

And international credit score agencies are uneasy about Southern Africa’s financial leads. After a spate of downgrades early this current year, they will have threatened downgrades that are further will need the nation deeper into junk status.

As the South African situation is getting ultimately more hopeless, which requires hopeless measures, the concept to show to your IMF is a poor concept and should be dismissed. Continue reading Why Southern Africa should not seek out the IMF for assistance