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The IMF and World Bank Loans SA. Could This Make Things Worse For SA? (Opinion).

As South Africans We Could Be In Trouble After Ramaphosa Did This. See Details (Opinion). 

The South African politics and economics have been in shambles for a while now. Seemingly things have been getting worse as peoole are tired of the ruling party. The troubling news is that more trouble could be following as Ramaphosa keeps on taking more loans from the IMF and the World Bank. 


In July 2020, Ramaphosa secured R500 Billion loan from the IMF. Just yesterday, it was announced that the President secured a R11.4 billion loan. The loan is apparently aimed at dealing with the Covid-19 pandemic and boost economic recovery. 

It seems like Ramaphosa keeps on taking loans from the IMF and World Bank. If Ramaphosa knew of other situations other countries have been through due to the loans from the IMF and World Bank, he would be aware not to take the loans but it seems Ramaphosa is adamant with selling South Africans

A short video explaining the consequences of taking these loans has been shared on twitter and I will attach the link to the video. First, the IMF and World Bank are known to simple neoliberal policies on Third World countries. Most countries that receieved these loans and could not pay back the loans, the IMF imposed structural adjustment policies which deteriorated the economies and livelihoods of citizens. The IMF will impose policies that SA should follow if we can't pay back and they might things worse as the policies might include budget cuts in education and health care. 


The daunting thing about this is that South African could end up having to go through the same road and path as other countries that fell into the IMF and World Bank trap. The only way forward here is to remove the ANC. There is enough damage already. From service delivery to unemployment, the order of the day is lack. South Africans need to act now or we could find ourselves in trouble for a very long time. 


Source and Video:

https://mobile.twitter.com/LeighMathys/status/1484541125113307136


https://www.news24.com/amp/fin24/economy/sa-to-get-750-million-world-bank-loan-to-boost-economic-recovery-20220121

Content created and supplied by: Proudly_SouthAfrican (via Opera News )

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