South Africa Monthly Briefing December 2019

President Cyril Ramaphosa’s (2018-present) first year in office disappoints. Action against corruption, on the economy and on social transformation is slow. The government is defensive, pointing to the Zondo Commission of Inquiry and appointments at the National Prosecuting Authority (NPA). The NPA launches a wave of corruption arrests of serving African National Congress (ANC) officials and former state-owned power utility Eskom senior managers. A new CEO at Eskom reveals the full extent of problems. Experts suggest that corruption at Eskom continues unabated as current bailouts are being misappropriated. The continuing energy crisis and load-shedding hamper the economy, which ends the year in the second quarter of negative growth. An International Monetary Fund (IMF) Article IV report highlights weak economic growth, deteriorating fiscal and government debt and major difficulties in the operations of state-owned enterprises (SOEs) as persistent problems contributing to long-term low growth, unemployment and inequality.

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South Africa Monthly Briefing December 2019


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