Opposition to SA’s economic trajectory growing in alliance
Finance Minister Tito Mboweni’s comments that the country might need to turn to the International Monetary Fund (IMF) for help are set to feature prominently in the meeting between o¤cials of the ANC and its tripartite alliance partners – the SACP and Cosatu –
tomorrow.
The tripartite alliance political council is holding a virtual meeting to discuss government’s
response to the Covid-19 outbreak and the country’s economic crisis in the wake of Moody’s downgrading South Africa to junk status.
Both Cosatu and the SACP said Mboweni’s paper on economic reforms last year and his recent comments on the IMF will be raised at the meeting.
SACP first deputy general secretary Solly Mapaila said the party wanted to express its opposition to the country’s economic trajectory as led by Mboweni.
“There is nowhere in the world where you could prove to us that the IMF had rescued a country in economic crisis. All they simply do is [provide] an opportunity for you to be tied to their strings and play to their music anytime
they want. We need to look at different measures,” he said.
The party has also been championing a campaign for private sector healthcare to treat Covid-19 patients for free, an issue that will also be discussed tomorrow.
The secretaries of the alliance expressed concerns about Mboweni’s suggestions to approach the IMF, saying there was a need to safeguard the country’s sovereignty and
independence.
The organisations suggested that the country rather approach the New Development Bank established by Brics, the economic bloc made up of the fast-growing emerging economies of Brazil, Russia, India, China and South Africa.
Cosatu general secretary Bheki Ntshalintshali said the political council will discuss Mboweni’s economic blueprint, which included exempting small, medium and micro enterprises from the national minimum wage, as well as selling off Eskom’s coal-fired stations.
“During the state of the nation address in February, the president indirectly endorsed it [Mboweni’s document] and said the Treasury will be tabling this thing as a Treasury paper.
“From us, that thing is not even a government policy
because it has not been tabled at Nedlac [National Economic Development and Labour Council],” he said.
Mboweni declined to comment, while ANC spokesman Pule Mabe could not be reached
