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Magashule now supports Mboweni’s plan to get loans from World Bank, IMF

He said the ANC had confidence in its deployees in government to get the loans but only if conditions were favourable to the country.

Finance Minister Tito Mboweni delivering his Supplementary Budget on 24 June 2020. Picture: GCIS

JOHANNESBURG - African National Congress (ANC) secretary general Ace Magashule has made an about-turn after rejecting Finance Minister Tito Mboweni’s plan to get loans from the World Bank and the International Monetary Fund following the national executive committee meeting over the weekend.

He said the ANC had confidence in its deployees in government to get the loans but only if conditions were favourable to the country.

In April, Magashule, the South African Communist Party’s Solly Mapaila and Congress of South African Trade Unions Bheki Ntshalintshali issued a strongly worded statement against the finance minister's plans.

But Magashule now said it was a collective ANC decision: “But the bottom line is very clear: we should look at those conditions and whether those conditions are favourable to South Africa. We have confidence in our deployees because in charge is the ANC government.”

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