IMF and World Bank loans will trap South Africa in debt cycle: EFF – SABC News

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The Economic Freedom Fighters (EFF) are calling on the government to avoid seeking loans from international financial institutions such as the International Monetary Fund (IMF) and the World Bank.

EFF supporters have gathered outside the Cape Town campus of the Cape Peninsula University of Technology, from where they are marching towards Parliament to demonstrate against the loans ahead of Finance Minister Enoch Godongwana’s budget statement.

The EFF says the expropriation of land without compensation should be the main driver of economic growth in South Africa, rather than the loans the country receives from the IMF or the World Bank.

EFF deputy general secretary Poppy Mailola said the loans would trap South Africa in a cycle of debt.

Poppy Mailola says the country should instead focus on developing a system that will see young people develop the country’s economy by working the land they receive through expropriation and ownership.

EFF marches for the end of international loansInasmuch as

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