EFF calls IMF loan ‘biggest political blunder’, DA says it’s watershed moment for SA

The $4.3 billion loan government received from the International Monetary Fund’s executive board was the biggest political blunder in the history of South Africa, the EFF said in a statement.

“The budget tabled by the Finance Minister [Tito Mboweni] in Parliament in June only allocated R43.2 billion additional funds to the budget. R32 billion was allocated to the national government, and R11 billion was allocated to the local government. The loan is part of R95 billion being sought from multilateral institutions to support job creation and protection for businesses negatively impacted by the Covid-19 pandemic, it was previously reported.“Government is borrowing money without a believable plan to deal with already uncontrollable debt or economic recovery.

Source: News Formal (newsformal.com)

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