Populist policies can wreck economies, Sarb governor warns

Lesetja Kganyago
Lucy Stewart

Leaders who try to engineer short-term booms ignore the long-term costs, South Africa’s Reserve Bank governor Lesetja Kganyago said.

“Populist governments tend to be especially weak on economics, which is a common reason why their projects fail, ” Kganyago told an audience in Johannesburg on October 19.

The Sarb governor said neighbouring Zimbabwe showed there were “many more zeroes” that could added to the high inflation seen in Peru and Brazil.

Kganyago said Ill-judged fiscal stimulus may

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