Nicola Mawson
The International Monetary Fund (IMF) said yesterday that South Africa has an opportunity to take advantage of its new dispensation to implement bold reforms to address long-standing challenges and achieve the economys full potential.
The IMF, which was in South Africa between July 1 and 8, made this statement following the conclusion of its Post Financing Assessment (PFA) discussions with the National Treasury.
Its position is broadly in line with that of most market commentators, who see the recently formed Government of National Unity (GNU) as an opportunity to restore confidence in South Africa through the introduction of policies that will remove bottlenecks and fast-track growth.
Noting that South Africa continues to face persistent structural challenges, the IMF said that the government has the chance to turn the economy around from the path of weak growth, high debt, and deteriorating living standards towards high growth, fiscal sustainability, and shared prosperity.
