PALI LEHOHLA | Here’s a poisoned chalice to wash down the apple, Eve
South Africa should brace for impact after weeks of successive developments that do not bode well for the economy
High noon for South Africa is nigh as a high-level mea culpa converges in a dissonant chorus. South Africa bit the apple, and innocence is gone. In the past two to three weeks there have been tactical shifts on the economic front that unfortunately add up to zero at best and at worst negative impact: the release of the IMF South Africa: 2023 Article IV Consultation; the flight of business to the oracle for wisdom; the monetary policy committee’s (MPC) coming review of the determinants of interest rates, which was announced by the governor of the Reserve Bank; the U-turn on South Africa’s just energy transition (JET) announced by the president; the request for proposals for repurposing the Komati coal-fired power station; and the failure to take up 1,000MW of Window 5 that now cannot reach financial close amid our most important hope towards ending load-shedding. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
There’s never been a more important time to support independent media.
From World War 1 to present-day cosmopolitan South Africa and beyond, the Sunday Times has been a pillar in covering the stories that matter to you.
For just R80 you can become a premium member (digital access) and support a publication that has played an important political and social role in South Africa for over a century of Sundays. You can cancel anytime.
Already subscribed? Sign in below.
Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.