Don’t cry for us: Argentina’s political nightmare is mirrored in SA
Populism, decades of bad governance, Zuma-esque strategies – the two countries have many woes in common
Big investor selloff; huge currency decline against the US dollar; a reformist leader hemmed in by populist and corrupt rivals; the former president uses the head of state’s difficulties to launch their fightback; a resource-rich economy is trapped in negative sentiment and low growth and unemployment and poverty ticks upward.
If this looks depressingly familiar and sounds decidedly local, you would be both right and wrong. Correct, perhaps, as a description of SA today, but the above headlines describe the swirl of events churning across the South Atlantic, in Argentina.
We might have beaten the Pumas in back-to-back contests in the Rugby Championship, but when it comes to the political economy, the Argentinians beat us hands down in a race to the bottom. Even if a lot of the tag lines and sovereign tropes are eerily similar...