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EFF calls IMF loan ‘biggest political blunder’, DA says it’s watershed moment for SA

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The DA said it wanted Mboweni to publish detailed monthly reports on the disbursement of Covid-19 relief funds, how it was spent, which companies were beneficiaries and who their directors were.

The $4.3 billion loan government received from the International Monetary Fund’s executive board was the biggest political blunder in the history of South Africa, the EFF said in a statement.

“The budget tabled by the Finance Minister [Tito Mboweni] in Parliament in June only allocated R43.2 billion additional funds to the budget. R32 billion was allocated to the national government, and R11 billion was allocated to the local government. The loan is part of R95 billion being sought from multilateral institutions to support job creation and protection for businesses negatively impacted by the Covid-19 pandemic, it was previously reported.“Government is borrowing money without a believable plan to deal with already uncontrollable debt or economic recovery.

 

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‘Mboweni is misleading SA on IMF loan being low-interest,’ says EFFThe party argued that the loan would only increase the money owned to the IMF, claiming that it was 'the biggest political blunder in South Africa's history'.
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