South African Covid-19 News and Discussions

[MiW]

The IMF and World Bank: Partners in Economic Backwardness - Global Research

Michael Hudson discusses his seminal work of 1972, Super Imperialism: The Economic Strategy of American Empire, a critique of how the US exploits foreign economies through IMF and World bank debt; difference between the IMF and World Bank; World Bank dysfunctional from the outset; loans made in...

www.globalresearch.ca

An interesting interwiew re IMF if you have the time... Answers lots of how's and why's

"IMF conditionality is a set of policies or conditions that the IMF requires in exchange for financial resources.[18] The IMF does require collateral from countries for loans but also requires the government seeking assistance to correct its macroeconomic imbalances in the form of policy reform.[25] If the conditions are not met, the funds are withheld.[18][26] The concept of conditionality was introduced in a 1952 Executive Board decision and later incorporated into the Articles of Agreement.

Conditionality is associated with economic theory as well as an enforcement mechanism for repayment. Stemming primarily from the work of Jacques Polak, the theoretical underpinning of conditionality was the "monetary approach to the balance of payments".[19]

Structural adjustment
Further information: Structural adjustment

Some of the conditions for structural adjustment can include:

• Cutting expenditures or raising revenues, also known as austerity.
• Focusing economic output on direct export and resource extraction,
• Devaluation of currencies,
• Trade liberalisation, or lifting import and export restrictions,
• Increasing the stability of investment (by supplementing foreign direct investment with the opening of domestic stock markets),
• Balancing budgets and not overspending,
• Removing price controls and state subsidies,
• Privatization, or divestiture of all or part of state-owned enterprises,
• Enhancing the rights of foreign investors vis-a-vis national laws,
• Improving governance and fighting corruption.

These conditions are known as the Washington Consensus."

International Monetary Fund - Wikipedia

en.wikipedia.org

That sounds better than the current government 'manifesto'

One always will pay interest on money borrowed ..most people don't like their creditors

 

[Gordon_R]

The Eastern Cape is playing catch-up, but also highlighting the issue of contact tracing and social isolation in high density areas:

Covid-19: Mkhize concerned after increase in confirmed cases in Nelson Mandela Bay, now at 167

Health Minister Zweli Mkhize says Nelson Mandela Bay should ramp up its testing and screening after a rapid rise in confirmed Covid-19 cases in the metro to 167, with six deaths.

www.news24.com

National health minster not happy with EC provincial resources:

Covid-19 | Mkhize furious with Eastern Cape Health MEC and team, sends reinforcements

Health Minister Zweli Mkhize has been forced to take dramatic steps to bolster Nelson Mandela Bay's fight against Covid-19, after it emerged in a damning report that the Eastern Cape government failed to provide adequate resources for the municipality to tackle the pandemic.

www.news24.com

"What made the situation tense was when he heard of critical vacancies. There is no district director. There is no clear plan how many beds are available in hospitals. The province is only starting to do renovations now in hospitals. Staff are not trained for screening and testing. The staff have no proper skills on how to take care of [those who are] affected. Those who have passed on are wrapped in sheets instead of the protective material. There are no protective clothes for workers. Zweli was clear that without the municipality, it would be a mess. He said ]what] saved the Bay is a strong municipal direction."

 

[Brian_G]

That sounds better than the current government 'manifesto'

One always will pay interest on money borrowed ..most people don't like their creditors

Sure, and Wiki would describe it just that way...... but there's always a hidden agenda when it comes to big money, which is about power.

 

[The_Right_Honourable_Brit]

National health minster not happy with EC provincial resources:

Covid-19 | Mkhize furious with Eastern Cape Health MEC and team, sends reinforcements

Health Minister Zweli Mkhize has been forced to take dramatic steps to bolster Nelson Mandela Bay's fight against Covid-19, after it emerged in a damning report that the Eastern Cape government failed to provide adequate resources for the municipality to tackle the pandemic.

www.news24.com

Did he expect anything different from the Eastern Cape? One of the poorest and most corrupt provinces in SA. The whole place is in absolute shambles, mainly because the ANC has never been threatened in the province, except in one or two municipalities.

 

[MiW]

Sure, and Wiki would describe it just that way...... but there's always a hidden agenda when it comes to big money, which is about power.

Sure, your choise between ANC policies , or IMF ?

 

[Brian_G]

Sure, your choise between ANC policies , or IMF ?

Ouch! That's too difficult to answer :- (
Anything rather than ANC, but not IMF of all things, please, no thanks!

And we're not even discussing who the IMF are in bed with...

 

[Brian_G]

New sneaky development reported in the ban on booze/smokes thread - industry getting a R6 billion tax holiday to "allow" ban!

Wow, what's so important about smokes that the grabomint will go that far??
IMF maybe, all about bigger control issues maybe?

 

[alternate]

New sneaky development reported in the ban on booze/smokes thread - industry getting a R6 billion tax holiday to "allow" ban!

Wow, what's so important about smokes that the grabomint will go that far??
IMF maybe, all about bigger control issues maybe?

Sounds like I wont be walking into the bottle store any time soon.

 

[ToxicBunny]

New sneaky development reported in the ban on booze/smokes thread - industry getting a R6 billion tax holiday to "allow" ban!

Wow, what's so important about smokes that the grabomint will go that far??
IMF maybe, all about bigger control issues maybe?

Or its a method of helping the companies not fold and not some sneaky underhanded way of "allowing" the ban...

 

[dualmeister]

Is Rama giving an updated tonight?

 

[etienne_marais]

Coronavirus: ANC Councillors ‘Looting” Food Parcels for the Poor

South Africa’s municipal councillors are “looting” food parcel meant to be distributed to the poor across the country as millions go hungry because of the national lockdown.

The alleged incidents of corruption and food looting currently taking place have been reported in several provinces, where claims are being made that those in charge of the distributions – mostly ANC councillors – are not giving the food to the needy families, according to City Press.

 

[silentc]

Is Rama giving an updated tonight?

Yes there is supposed to be a parole hearing tonight, but time seems to be yet to be determined...

 

[Lupus]

Yes there is supposed to be a parole hearing tonight, but time seems to be yet to be determined...

No parole for us

 

[Steamy Tom]

7pm apparently

 

[Brian_G]

Or its a method of helping the companies not fold and not some sneaky underhanded way of "allowing" the ban...

The one tobacco company was going ahead with a court hearing, was being directly asked not to.

I think we've lost track a couple of pages later, the point was the strange timing and some now strange actions from the gov.
But sure, could be wrong, about some of it anyway.

 

[ToxicBunny]

The one tobacco company was going ahead with a court hearing, was being directly asked not to.

I think we've lost track a couple of pages later, the point was the strange timing and some now strange actions from the gov.
But sure, could be wrong, about some of it anyway.

It wasn't a tobacco company. Its an industry grouping of relatively small players in the market (barring maybe the dodgy Carnilinx).

And the timing is hardly strange, the government has been announcing a raft of measures in the last 2 days or so, so for this to be included is not odd...

 

[Binary_Bark]

7pm apparently

So its 21:00?

 

[Jonny_9]

National health minster not happy with EC provincial resources:

Covid-19 | Mkhize furious with Eastern Cape Health MEC and team, sends reinforcements

Health Minister Zweli Mkhize has been forced to take dramatic steps to bolster Nelson Mandela Bay's fight against Covid-19, after it emerged in a damning report that the Eastern Cape government failed to provide adequate resources for the municipality to tackle the pandemic.

www.news24.com

This is why these kinds of government projects need to be coordinated with a top-down approach (on the guidance and advice of proper experts) .
Otherwise, there is random chaos happening in different provinces and different municipalities.
With the government PMDS system being a joke, with it being about impossible to fire an ill-performing civil servant, and with the provincial and municipal top-dogs drunk on power and BMW's you get this kind of thing in the E Cape.

 

[pinball wizard]

I don't understand this idiocy. Everytime a person working in a grocery or pharmacy tests positive the store closes? So it's a race to the bottom and eventually all the stores will be closed? Then even the few of us who have jobs and money are ****ed, right?

 

[Brian_G]

And the timing is hardly strange, the government has been announcing a raft of measures in the last 2 days or so, so for this to be included is not odd...

I'm not convinced.
But either way the IMF is starting to pull the strings.