IMF issues warning on South African economy


Fox News
Oct. 1, 2013

he International Monetary Fund warned Tuesday that South Africa is trailing other emerging markets and must quickly implement reforms if it wants to avoid crisis.

The IMF, in an annual report on Africa’s largest economy, pointed to painfully high unemployment and a plethora of other economic troubles staking the country.

“South Africa’s growth has underperformed and vulnerabilities have increased considerably,” the IMF said, predicting “continued sluggish growth” of 2.0 percent this year and 2.9 percent in 2014.

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