Tito needs the IMF, South Africa doesn’t — Dick Forslund

It shows why the extreme economic programme of the neoliberal faction in the ANC — a programme that rules out redistribution from rich to poor and any challenge of corporate power as policy alternatives — needs to be politically locked-in almost by means of political pressure from international institutions.

A further measure to prevent democratic processes and elections from changing economic policy is captured by the commitment in the Letter of Intent to the IMF, to seek government consensus for the introduction of a debt ceiling. This would have the effect of tying the government’s hands, preventing it from implementing stimulus packages and meeting the urgent needs of the population in critical times like the present....

There you have it. 

Mail & Guardian (UK)
Tito needs the IMF, South Africa doesn’t

Dick Forslund