• News
  • Sport
  • TV
  • Radio
  • Education
  • TV Licences
  • Contact Us
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • FEATURES
  • OPINION
No Result
View All Result
1
Home Business

Kganyago cautions SA against approaching IMF

16 August 2019, 8:49 AM  |
SABC SABC |  @SABCNews
The International Monetary Fund aims to foster global monetary cooperation, secure financial stability and facilitate international trade

The International Monetary Fund aims to foster global monetary cooperation, secure financial stability and facilitate international trade

Image: Reuters

The International Monetary Fund aims to foster global monetary cooperation, secure financial stability and facilitate international trade

Reserve Bank Governor Lesetja Kganyago has strongly cautioned against approaching the International Monetary Fund (IMF) for financial backing.

Speaking on the Bottomline on Thursday night, Kganyago says going to the IMF would prove disastrous for the economy.

He says sound economic policies will put the country on track and in a better position in terms of economic growth.

“South Africa does not have to go to the IMF cap in hand. The future of this country is in our hands, you end up in the IMF because you have lost confidence of lenders, you have messed up your economic policy so badly that the only choice you have can only be bad ones and when you faced with that one, no one wants to lend you money and the only institution that will be prepared to lend you money is the IMF.”

Kganyago adds that South Africa has a history of overcoming adversities and has been able to stabilise the economy over the years.

Click below to watch the full interview:

Share article
Tags: The International Monetary FundReserve BankIMFLesetja Kganyago
Previous Post

Sibanye-Stillwater hold prayers for those lost in Marikana tragedy

Next Post

North Korea fires projectiles; rejects South Korea’s dialogue pledge

Related Posts

A person works at ''The Faktory", a fashion design and clothing manufacturing company in Johannesburg, South Africa, March 4, 2021.

SA economic growth at 0.4% for first quarter of 2023: Stats SA

6 June 2023, 2:22 PM

Western Cape launches booster fund to increase exports

6 June 2023, 12:44 PM
Karadeniz Powership Orhan Bey, an electricity-generating ship from Turkey, docked at the port of Jiyeh, south of Beirut, Lebanon August 10, 2017.

Karpowership contracts will be reduced from initial 20-year term: Ramokgopa

6 June 2023, 10:17 AM
Prasa Board Chairperson, Leonard Ramatlakane during an oversight visit at the reopened Naledi to Johannesburg train route on December 15, 2022.

Leonard Ramatlakane fired as Prasa’s board Chair

6 June 2023, 10:02 AM
Power lines are pictured during the sunset.

Eskom suspends rolling blackouts until 4pm

6 June 2023, 9:45 AM
Chickens are seen at a poultry farm outside Klerksdorp in the North West province, South Africa,

Agriculture Department quarantines farms in Western Cape due to Avian Influenza

6 June 2023, 8:05 AM
Next Post
The flag of North Korea is seen in Geneva, Switzerland

North Korea fires projectiles; rejects South Korea's dialogue pledge

Most Viewed

  • 24hrs
  • Week
  • Month
  • Eastern Cape ActionSA raises eyebrows over qualifications of senior officials
  • Slain teen Palesa Malatji’s family calls for death sentence to be reinstated
  • Limpopo district embroiled in fraudulent travel claims
  • Unisa suspends registrar for various breaches of policy
  • Tina Joemat-Pettersson has passed away
  • Dr Nandipha’s looks during court appearances under the spotlight
  • Deadline for Zimbabwean Exemption Permits draws near
  • Reserve Bank expected to increase repo rate on Thursday
  • Zimbabwe receives 18 helicopters from Russian Federation
  • Eastern Cape ActionSA raises eyebrows over qualifications of senior officials
  • Unisa suspends registrar for various breaches of policy
  • Tina Joemat-Pettersson has passed away
  • An investigator in the Bester escape case dies
  • Buthelezi reveals that King Misuzulu KaZwelithini has requested a meeting with him
  • SA has lost a dedicated leader in Joemat-Pettersson: Ramaphosa

LATEST

File Image: Firefighters trying to extinguish a blaze
  • South Africa

One person injured in Cape Town building fire


Late Brigadier Jackson Mkhaulesi
  • Thabo Bester saga
  • South Africa

Advocate says investigator’s death won’t hamper Bester case


Comrades Marathon runners
  • Sport

Comrades Marathon sparks bumper weekend for KZN hospitality


An Uber logo is shown on a vehicle.
  • South Africa

Situation in Protea Glen under control after E-hailing protests: JMPD


Pope Francis holds the weekly general audience at the Paul VI Hall at the Vatican, March 2, 2022
  • World

Pope returns to Vatican after hospital check-up


A person fills up a bottle with water from a water tank in Hammanskraal
  • Cholera outbreak
  • South Africa

Several municipalities issued with non-compliance notices over clean water


Weather

  • About the SABC
  • Contact Us
  • Jobs
  • Advertise
  • Disclaimer
  • Site Map

SABC © 2023

No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • FEATURES
  • OPINION

© 2023

Previous 34 workers were shot and killed by police during a protracted wage strike at the then Lonmin operations, now owned by Sibanye-Stillwater Sibanye-Stillwater hold prayers for those lost in Marikana tragedy
Next The flag of North Korea is seen in Geneva, Switzerland North Korea fires projectiles; rejects South Korea’s dialogue pledge