HomePoliticsDACosatu And SACP To Account Finance Minister Over IMF Overture

Cosatu And SACP To Account Finance Minister Over IMF Overture

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Finance Minister Tito Mboweni/Photo file:Screengrabs

SACP and Cosatu guns Mboweni to account over his comments that the country might need to turn to the International Monetary Fund (IMF) for help are set to be major feature in the meeting between ANC and its tripartite alliance partners.

The tripartite alliance political council is holding a virtual meeting to discuss government’s
response to the Covid-19 outbreak and the country’s economic crisis in the wake of Moody’s downgrading South Africa to junk status.

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SACP and Cosatu guns Mboweni’s paper on economic reforms last year and his recent comments on the IMF will be raised at the meeting.

SACP first deputy general secretary Solly Mapaila said the party wanted to express its opposition to the country’s economic trajectory as led by Mboweni.

“There is nowhere in the world where you could prove to us that the IMF had rescued a country in economic crisis,” said Mapaila

All they simply do is provide an opportunity for one to be tied to their strings and play to their music anytime.

SAPC and Cosatu guns Mboweni to account, while the party has also been championing a campaign for private sector healthcare to treat Covid-19 patients for free, an issue that will also be discussed tomorrow.

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The secretaries of the alliance expressed concerns about Mboweni’s suggestions to approach the IMF, saying there was a need to safeguard the country’s sovereignty and
independence.

SAPC and Cosatu guns Mboweni to account and the organizations suggested that the country rather approach the New Development Bank established by Brics.

“The economic bloc made up of the fast-growing emerging economies of Brazil, Russia, India, China and South Africa,” said secretaries.

Cosatu general secretary Bheki Ntshalintshali said the political council will discuss Mboweni’s economic blueprint, which included exempting small, medium and micro enterprises from the national minimum wage, as well as selling off Eskom’s coal-fired stations.

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“During the state of the nation address in February, the president indirectly endorsed it [Mboweni’s document] and said the Treasury will be tabling this thing as a Treasury paper,” said Ntshalintshali.

According to Sowetan World, Mboweni declined to comment, while ANC spokesman Pule Mabe could not be reached.

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Florence Sibiya for SurgeZirc SA
Florence Sibiya for SurgeZirc SA
Florence Sibiya is a highly dedicated and talented reporter for SurgeZirc SA Business News. With her passion for business and her commitment to delivering accurate and reliable news, she has become an invaluable asset to the team.
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