IMF concerned about SA’s state of economy
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GUEST – Max Alier, IMF Resident Representative in South Africa
The International Monetary Fund (IMF) has concluded its Article IV assessment on South Africa, warning that the country faces near-zero economic growth in 2023, and conditions are likely to deteriorate further without much-needed reforms. The IMF noted in its assessment that South Africa’s economy faces mounting economic and social challenges.
Growth moderated from 4.9% in 2021 to 2.0% in 2022 as the country was buffeted by Russia’s war in Ukraine, global monetary policy tightening, severe floods, and an unprecedented energy crisis.
The International Monetary Fund (IMF) has concluded its Article IV assessment on South Africa, warning that the country faces near-zero economic growth in 2023, and conditions are likely to deteriorate further without much-needed reforms. The IMF noted in its assessment that South Africa’s economy faces mounting economic and social challenges.
Growth moderated from 4.9% in 2021 to 2.0% in 2022 as the country was buffeted by Russia’s war in Ukraine, global monetary policy tightening, severe floods, and an unprecedented energy crisis.