IMF cautiously optimistic about economic outlook in SA

IMF chief Christine Lagarde has met Deputy President Cyril Ramaphosa in Davos where the World Economic Forum is being held.

Deputy President Cyril Ramaphosa with the South African government delegation ahead of the World Economic Forum 2018 Annual Meeting in Davos, Switzerland. Picture: GCIS.

JOHANNESBURG - The International Monetary Fund (IMF) says bold and timely reforms are needed in South Africa to create an environment conducive to job creation.

IMF chief Christine Lagarde has met Deputy President Cyril Ramaphosa in Davos where the World Economic Forum is being held.

The pair discussed recent developments and the outlook in South Africa.

Lagarde says that recent initiatives to improve governance and strengthen public institutions are steps in the right direction.

But she’s warned these efforts need to be sustained.

Economist Xhanti Payi says it’s encouraging to see that the IMF is noting the changes in the ANC and also at Eskom.

“For the first time we can actually show some results on how we’re moving towards what they had been advising. The governing party has a new leadership and perhaps they have more pull on how things could actually change.”

(Edited by Shimoney Regter)