A South African author and columnist Max du Preez has alerted economists and state government of the possibility of the country moving into junk status by the end of the year if Zuma is allowed to continue.
He said Zuma and his supporters in the ANC, in Cabinet and the business sector are frog-marching South Africa to a sovereign downgrade to junk status in December which will lead the economy to a deep recession
“It’s like watching two locomotives in slow motion approaching each other on the same line at great speed. We all know we’re heading for a big smash, but nobody is doing something decisive to stop it. On the contrary, the trains are accelerating the closer we get to disaster,” he said.
The writer noted that unless a quick and drastic change of course is taken to escape a downgrade and a free-fall of our currency, the country will jump-march to disaster. For the ANC, he said it would be worse as it would bring to naught, the party’s bid to retain power come 2019.
“It is very difficult now to foresee such a change in direction while Zuma is calling the shots. If we ever had a politician suffering from short-termism, he is it.
It’s nauseating to see prominent Zuma sycophants blaming “white monopoly capital” and “foreign imperialism” for the crisis we’re in.”
He said Zuma’s administration has ripped the country of all positive gains the country was supposed to have and has killed off the few unexpected green shoots in the economy in recent weeks.
“I can understand why Zuma is sticking to his scorched earth strategy. He is fighting to stay out of jail, to keep his tentacles of patronage on which his power is based intact and to make sure his clan and his benefactors can keep their snouts in the trough for one more year.
“Zuma seems prepared to pull down the pillars of Temple South Africa like Samson of the Bible and collapse the whole place,” laments Max du Preez.
A lot seems to have gone wrong in the country in the recent past, and President Zuma takes the blame for all the wrongs both in the country and in his party, the ANC.
Worse still is the case between the Hawks and the finance minister Pravin Gordhan which is assumed to be a ploy by the president to manipulate the treasury by first removing the minister.
Speaking on this, Du Preez said every day that the witch hunt against Gordhan continues and the fingers tighten around the throat of the national treasury, is a day closer to our economic ruin.
Zuma’s greatest achievement is that he had succeeded in eight short years to bring out the worst in a 104 year-old liberation movement and led it to the edge of self-destruction.
The writer therefore suggests that it would be in the interest of all South Africans if the crisis, the war between sections of government, were forced to a point of resolution in the next few weeks.
He said the uncertainty and loss of respect for the organs of state could prove to be worse than an outright Zuma victory over his opponents.”Civil society and the business community should turn the screws now more than ever before,” Max du Preez noted.