Economics
World to Ramaphosa: Do Something Fast to Save South Africa
- President is constrained by dynamics in ruling party
- IMF, World Bank are among those clamoring for change
Cyril Ramaphosa
Photographer: Sergio Lima/AFP via Getty Images
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Pressure is mounting on South African President Cyril Ramaphosa to stabilize the government’s shaky finances and rescue an economy teetering on the brink of a recession.
Since taking office in February last year, Ramaphosa has repeatedly pledged to ignite growth and reverse nine years of misrule by his predecessor Jacob Zuma. His ability to undertake reforms has been constrained by a ruling party faction that wants the government to play a greater role in the economy and by powerful labor unions opposed to state-spending and job cuts.