The International Monetary Fund (IMF) had warned South Africa that its financial situation is now “extremely precarious”. The IMF told Treasury to cut government expenditure even more. This comes after the IMF visited SA.
As a result of the continuing bail-outs of State Owned Enterprises (SOE’S) the IMF said this was as far as it would go and in its latest report gave stern warnings.
Analysists were quoted is saying that the country now had to change its course. Despite promises of the government, the IMF said “no more.” Time is of the essence, not only for government, but for the ordinary person on the street who is getting poorer by the day.