November 8, 2017 / 3:00 PM / a year ago

IMF urges South Africa to launch reform plan to boost economy

JOHANNESBURG, Nov 8 (Reuters) - South Africa should implement reform to restore confidence in the economy soon, the International Monetary Fund said on Wednesday, citing rising domestic political uncertainty and stalled reforms that signalled a challenging economic outlook.

“IMF staff anticipates that the subdued economic growth of 0.7 percent, projected by the authorities for 2017, is not likely to improve much in 2018,” the IMF said in a statement.

“Early announcement and timely implementation of a strong adjustment and reform plan is now a priority to restore investor and consumer confidence.” (Reporting by Olivia Kumwenda-Mtambo; Editing by James Macharia)

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