There’s talk of South Africa being greylisted by the Financial Action Task Force. That may not sound like something that should concern you too much but it could have real-world implications for all of us.
Turning South Africa’s economy around is going to take a Herculean effort, and it doesn’t look like Ramaphosa’s four-point plan is going to cut it.
Fear not – our best and brightest are hard at work to turn around South Africa’s ailing economy.
According to a Johannesburg-based political and economic risk consultancy, we’re a decade away from being a “failed state”.
Even though you know full well the numbers are going to be dire, they still sting. Let’s take a closer look at what it all means.
Yesterday, the National Treasury released guidelines to government departments and public institutions, stressing that unless changes are made, a crisis looms large.
South Africans spent the month of April under alert level 5 of the lockdown, faced with regulations that rank amongst the strictest in the world.
Whilst it is the country’s poorest citizens that will be most affected, everyone can expect their lifestyles to change as the economic effects of COVID-19 play out.
Members of parliament have been warned that if the fiscus continues on its current trajectory, SA will run out of money by 2042.