Some parties in Parliament have expressed reservations about a call by Finance Minister Tito Mboweni for elected public representatives to consider salary cuts due to the prevailing economic situation.
Chief Economist at Econometrix, Dr Azar Jammine, has backed government’s decision to seek financial assistance from the International Monetary Fund to mitigate the impact of the coronavirus pandemic (IMF).
The International Monetary Fund (IMF) approved $171.9 million of funding to Madagascar, it said on Thursday, bringing the total COVID-19 emergency support to the country to $337.9 million as the island nation’s economy struggles due to the pandemic.
The National Treasury says the R70 billion from the IMF will allow the government to provide relief where it is needed during the battle against coronavirus. The remarks come amid concerns from various quarters about the loan’s impact on South Africa’s sovereignty and whether the money will do what it is intended to do.
Political parties have reacted differently to the International Monetary Fund’s (IMF) multi-billion rand loan to South Africa.