The possibility of a bailout from the International Monetary Fund may be the deciding factor in pushing South Africa's government to introduce the reforms necessary to boost the country's economy. This comes as a government bailout for embattled power utility Eskom has put heavy strain on the country's budget and the unemployment rate rising to 29%, its highest since 2008.
South Africa: Country Close to 'Junk Status' Rating By Three Agencies. What Would Follow?
The Conversation Africa, 22 August 2019
The rating agency Fitch recently revised the outlook on South Africa's long-term foreign-currency issuer default rating down from "stable" to "negative". A credit rating outlook… Read more »
South Africa: No IMF Bailout in the Near Future, Say (Some) Analysts
Daily Maverick, 13 August 2019
Is South Africa about to go on bended knee to the IMF, triggering years of austerity and populist politics? There seems to be a growing consensus that it is, but there are… Read more »
South Africa: National Treasury Welcomes IMF Policy Recommendations
SAnews.gov.za, 4 June 2019
National Treasury has welcomed and noted the key risks identified and proposed policy recommendations by the International Monetary Fund (IMF) during a recent visit to the country… Read more »
The country faces an unemployment rate of 29% with well over half of its youth unemployed, Statistics South Africa has said. The report comes after President Cyril Ramaphosa warned that many South Africans are in danger of losing their jobs when he spoke at the University of Johannesburg's 25 Years of Democracy Conference.
Read more »President Cyril Ramaphosa has said that technology, globalisation, climate change and low economic growth are factors that will result in many South Africans losing their jobs. Speaking at the University of Johannesburg's 25 Years of Democracy Conference, Ramaphosa added: "We are all implicated in what is happening in our country therefore we are all called upon to play our role in addressing challenges."
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President Cyril Ramaphosa has launched the African National Congress's 2019 election manifesto, promising to put job creation, investment and decent living for workers at the centre. Ramaphosa appealed to South Africans to give the party another five years to govern, saying they have learned from their mistakes.
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