Mmusi Maimane: South Africa has a year until economy collapses

Mmusi Maimane: South Africa has a year until economy collapses

- Democratic Alliance leader Mmusi Maimane says that South Africa has only got a year left before the point of no return

- The opposition head says the nation has regressed from a 'leaking boat' to a 'sinking ship'

- Citing neighbor Zimbabwe and Venezuela as examples, Maimane called for active reform

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DA boss Mmusi Maimane is adamant that SA has just twelve short months before tragedy hits.

In a recent column, the opposition leader insists that if things don't improve soon the economy will collapse:

“If we don’t stem the bleeding right away, all those other conversations will simply become irrelevant because our economy will collapse. At the risk of sounding alarmist, I think we have a year to make meaningful reforms or resign ourselves to this looming disaster,”

Speaking against an IMF bailout, Maimane used both Zimbabwe, Venezuela and Argentina as examples of South Africa's final destination in his opinion, The Citizen reported.

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Pointing out the similarity of SA's position to that of Argentina's, Maimane spoke of a 'business-friendly president' that ultimately fails to 'revive a flagging economy', gathered.

While Maimane may be heralding the country's doom, economist Reg Rumney argues that the country is far from needing a bailout from the International Monetary Fund:

“Largely missing, too, is what exactly would force the government to even think about an IMF loan in the first place. As Reserve Bank governor Lesetja Kganyago has pointed out forcefully, there is no evidence that we need IMF aid at all. Loose talk about it is just more bad news that might help us talk ourselves into recession.”

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