South Africa’s finance minister Tito Mboweni says the IMF loan will limit the country’s economic vulnerabilities which have been exacerbated by COVID-19.
Gallo Images/Brenton Geach
The IMF loan does not impose any conditions over and above what is in South African law on how the funds can be used; it only seems to expect the country to implement policies already announced.
A look at the week in politics, focussing on what Treasurer Josh Frydenberg has described as "without doubt, the biggest shock this country has ever faced".
He is trying to transition out of stage one while drawing up stage three.
Parliament will almost certainly rubber-stamp Finance Minister Tito Mboweni’s supplementary budget.
National Treasury is incapable of coming up with the sweeping governmental, social and economic changes required to dig South Africa out of its economic hole.
Does the budget tabled by Finance Minister Tito Mboweni (right) speak to President Cyril Ramaphosa’s (left) vision of the new economy?
The budget is one of the key tools that government has to effect meaningful change.
Bicycle police officers keep an eye on Trinity Bellwoods Park in Toronto on Sunday, May 24, 2020. Warm weather and a reduction in COVID-19 restrictions has many looking to the outdoors for relief.
THE CANADIAN PRESS/Chris Young
The provincial government has funding to support non-police safety and well-being initiatives — but 99 per cent of it just supplements police budgets.
Decisions about the spending of enormous amounts are about to be made quickly. Here are eight rules to determine value for money.
Treasurer Josh Frydenberg's economic update to parliament will provide estimates for the road back from the economic downturn of the coronavirus
With the coronavirus curve now flattened, Scott Morrison is now hunting for steroids to drive up the curve of Australia's national productivity.
The federal budget will be delayed until October 6, as the demands of dealing with the rapidly moving pandemic and the impossibility of forecasting have made the May timetable impossible.
Cash payments are much more likely to be spent than bonus tax refunds.
South Africa’s finance minister, Tito Mboweni, delivering his mid-term budget.
A major concern is that the government’s resolve is strongest on policies that are actually quite suspect.
Unmarried parents spend, on average, several hundred dollars less on each child annually.
Single parents and unmarried parents who live together spend less on their children than married parents.
Since WWII, there’s been strong partisan support for military spending.
While the US has the most powerful military machine in history, it is also incomparably the most expensive – and members of Congress work aggressively to maintain it.
Henry Rotich - Kenya’s Cabinet Secretary for the National Treasury
Some areas of concern remain. These include the mobilisation of local resources, reduction of the fiscal deficit and stabilisation of the national debt.
South African parliamentarians need impartial and expert advice about public finance issues.
With the current state of the South African economy and public finances, the Parliamentary Budget Office could play a major role in ensuring that this happens. But the office is in complete disarray
Cutting back on dividend imputation will pay dividends to Labor budgets for years to come.
Bigger surpluses, lower debt and tax cuts baked in the Coalition's worst nightmare come true.
Taxing harmful behaviour like smoking and gambling have become too lucrative for governments to turn away from.
Governments are addicted to tax revenue from harmful activities. It is stopping them from doing what is in society's best interests.
On tax, Shorten one-upped the Liberals, offering bigger immediate tax cuts to 3.6 million taxpayers who earn under $48,000.
The opposition aims to put Medicare at the forefront of its campaigning, as it did in 2016. But there is a notable difference.
Frydenberg may claim education is critical to the prosperity of our country, but his budget does not reflect this.
The government has delivered a pretty disappointing budget for education, with no secure funding for early childhood education and a recycled commitment of $300 for schools.