🔒 IMF loan is game-changer for SA – Peter Leon
South Africa is set to receive a R71bn loan from the IMF. BizNews chats to Peter Leon about what the loan means for the future of our economy.
South Africa is set to receive a R71bn loan from the IMF. BizNews chats to Peter Leon about what the loan means for the future of our economy.
The development of a crucial rail line to Eskom’s Majuba power station, intended to replace coal truck deliveries, has been plagued by vandalism and infrastructure theft.
The World Bank’s summation of the consequences of these shocks, made worse by the longer-term slowdown in the growth of world trade, rising protectionism, the build up of debt and the worsening climate crisis, is grim.
There is such a thing as job creation and that is what the minister of ‘small business development’ was promising to stop.
SA’s household electricity prices sit in the more expensive half of the global spectrum, with at least 85 nations paying less per kilowatt-hour.
The IMF cut its forecast for global growth next year to 2.7%, from 2.9% seen in July and 3.8% in January, adding that it sees a 25% probability that growth will slow to less than 2%.
The World Bank reported that Eskom is 66% overstaffed. Salaries for 27,543 surplus staff amount to R1,3772 billion per annum.
It should cause South Africans concern that the government is receiving loans from the World Bank to support its economic recovery plan.
Wealth creation must, out of necessity, come before wealth distribution. You can’t distribute what doesn’t exist, writes James Peron.
The World Bank has launched an innovative approach to protect and grow the population of endangered black rhinos by launching a Wildlife Conservation Bond.