mo4ch:>Land confiscation plans will hurt South Africa's economic growth, IMF warns | Mo4ch News

South Africa’s economic recovery faces serious constraints, according to the International Monetary Fund (IMF) which pointed to land reform, growing debt of state firms, and capital outflows as obstacles for growth.“Some of the initial optimism has dissipated as growth remains stuck in low gear and reform implementation has faced constraints,” the IMF said, naming the state power firm Eskom as a key risk.Last month, the global lender projected Africa’s most industrialized economy expanding by 0.8 percent in 2018, down from a prior forecast of 1.5 percent. South Africa’s Treasury predicts growth of 0.7 percent.Read more Massive declines in agricultural and other sectors, which dragged the South African economy into recession after nearly a decade of growth, came as a result of the ruling party’s planned land reforms.The African National Congress (ANC) seeks a constitutional amendment allowing confiscation of land owned by white citizens without compensation for redistribution to the lan…