Briefing journalists ahead of his budget speech, finance minister Enoch Godongwana responded with vehemence, eloquence — and a bit of history — to a question about the controversy surrounding SA’s recent World Bank loan.

Historically there was criticism of the structural adjustment conditions attached to IMF and World Bank loans, but the ANC engaged with this issue right at the start of democracy — and decided it would interact with those institutions even though it would jealously guard SA’s sovereignty...

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