The PPE debacle comes as the IMF gives SA a huge loan, but Cyril Ramaphosa heads an ANC that seems to care little about its moral standing
Speaking at an online event hosted by local fund manager Ninety One, the International Monetary Fund’s senior representative for SA, MAlmost a week after the lender granted SA a R70bn loan to help finance its response to the Covid-19 crisis, one can only wonder what its leaders would have made of the headlines that have since ensued, with the ANC back in self-destruct mode that has taken infighting up more than a little notch.
The question is what, if anything, will be done. And reports coming out of the weekend meeting of the national executive committee are far from reassuring, despite it declaring itself “embarrassed” by members who had damaged the “moral standing of the ANC”. A key to growth, he said, is to revive business, which could be done by the country speaking with one voice, and delivering some concrete progress that could then change the conversation. “And once investors and consumers see things are changing, it can be a virtuous circle,” Mlachila said.It has already been noted that SA doesn’t have a shortage of ideas and advice on what needs to be done to get the economy going.
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