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Lagarde: 'Ramaphosa right man to lead SA to prosperity'

The International Monetary Fund (IMF) Managing Director Christine Lagarde has warned that the biggest risks facing South Africa’s economy are complacency and high expectations and slow service delivery.

President Cyril Ramaphosa receiving a courtesy call from IMF managing director Christine Lagarde as part of her Africa trip on 19 December 2018. Picture: GCIS

JOHANNESBURG – The International Monetary Fund (IMF) Managing Director Christine Lagarde has warned that the biggest risks facing South Africa’s economy are complacency and high expectations and slow service delivery.

Lagarde says the government needs to up efforts to improve governance and stimulate growth.

The IMF head made the comments at a media briefing accompanied by South African Reserve Bank Governor Lesetja Kganyago on Wednesday.

Lagarde was upfront about the challenges facing South Africa’s economy.

As the country emerges from a recession, Lagarde says now is the time to tackle those challenges.

“I’m very hopeful that the strengths of an institution like the central bank are the strengthening of the Treasury, of issues that are high on the agenda and that there’s never complacency about it.”

The IMF head says President Cyril Ramaphosa is the right man to steer the country to economic prosperity with the help of the private sector.

“There shouldn’t be any crowding out of the private sector, the private sector has to be the driver in that increase in investment which will lead to increase and which will create jobs of the future.”

Lagarde says her organisation is positive about South Africa’s economic prospects.

(Edited by Leeto M Khoza)

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