IMF says corruption in South Africa stunting reforms - CNBC Africa

IMF says corruption in South Africa stunting reforms

Southern Africa

by Reuters 0

IMF says corruption in South Africa stunting reforms. Photo: Flickr.

Corruption in South Africa is hampering reforms needed to boost economic growth, and greater transparency is needed at state-owned companies, an International Monetary Fund official said on Tuesday.

The IMF's First Deputy Managing Director David Lipton said that cutting taxes and increasing government spending would not solve South Africa's growth problems.

 

(Reporting by Mfuneko Toyana; Writing by Joe Brock)

 

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