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IMF's Lagarde urges SA to invest in education to stimulate economy

Managing director of the International Monetary Fund Christine Lagarde says that it is important government prioritises investment in technology in order to improve job creation but that it won't be easy.

Picture: EWN

JOHANNESBURG - Managing director of the International Monetary Fund Christine Lagarde has urged the South African government to invest in education to stimulate growth and grow the economy.

Lagarde says that education investment will lead to more job creation and help eradicate unemployment.

Lagarde was in the country as part of a tour of African countries.

The IMF boss held a meeting with the government's economic cluster to discuss measures to boost growth and create jobs.

One area Lagarde says is crucial is to invest in free tertiary education.

"Free higher education is a very strong tool. With it comes the question of how is it financed and that is where there are trade-offs and where sound fiscal policies, which we have advocated by suggesting there be growth-friendly consolidation going forward."

Lagarde says that it is important government prioritises investment in technology in order to improve job creation but that it won't be easy.

She says that her organisation will be keeping an eye on South Africa to ensure it's on the right track.

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