IMF Says South Africa Should Spell Out Land Reform Plans

Enterprise Television – IMF Says South Africa Should Spell Out Land Reform Plans

The International Monetary Fund (IMF) have called on South African government to clearly articulate its land reform plans in order to lift uncertainty weighing on investor sentiment.

South Africa’s ruling African National Congress has said it plans to redistribute land without compensation to address racial inequalities that persist more than two decades after the end of apartheid.

Report reveals Government critics have expressed concern that those plans could infringe on property rights.

The IMF, which recently completed a mission to South Africa, added in its statement that the government’s stated priorities of strengthening governance and promoting employment presented an opportunity to accelerate economic growth momentum.

However, IMF currently forecasts that the South African economy will grow 1.5 percent this year.

 

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