IMF slashes South Africa’s growth forecast to 1% amid logistical challenges
The International Monetary Fund downgraded its economic-growth forecasts for SA, warning that logistical challenges are constraining activity
The International Monetary Fund downgraded its economic-growth forecasts for SA, warning that logistical challenges are constraining activity
Liz Truss fired Treasury chief Kwasi Kwarteng in an attempt to salvage her tenure following pressure from her party and international markets.
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%.
There is a lot going for economic reform in Zambia. “Many in the region are hoping for great success,” writes Jonathan Katzenellenbogen.
Prosus intends to sell some of its Tencent shares, to the value of around $14.6bn to increase financial flexibility and invest in growth.
South Africa has secured 20 million doses of Pfizer’s Covid-19 vaccine as the death toll from the disease moves past 42,000.
There’s little festive cheer anywhere in the world as Covid-19 containment measures have stopped business activity at the busiest time.
The Asia-Pacific region is recovering from its worst recession in living memory, but Covid-19 scars will be deep everywhere, cautions the IMF.
The IMF says SA must deal with profligate spending. As a percentage of GDP, South Africa spends almost as much as the US.
South Africa has reduced the number of countries on its high risk Covid-19 list by more than half to 22 from 60, the government said on Monday.