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COPE: Statement by Congress of the People, on COSATU's comments on IMF loan (21/06/2012)

21st June 2012

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COSATU is the last one to take on the Treasury to tell them how to sort out the economy because they are the ones who are frustrating the implementation of the Youth Subsidy. The Federation bosses are the ones who are pressing for higher wages above inflation whilst we are struggling to get the State Wage Bill under control. COSATU is the organisation behind strikes and continue knocking productivity when everybody is striving for better economic growth. COPE therefore believes COSATU should be the last to tell South Africans how to run an economy. South Africa is a leader in Africa and a member of BRICS, and therefore we cannot divorce ourselves from the global village, and its economic problems. COSATU must note that the IMF loan is not a handout but a commitment to show that we are concern about our major trading partners and that we will earn interest on that loan.
 

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