William M. Gumede at PostGlobal

William M. Gumede

South Africa

William M. Gumede is a former deputy editor of The Sowetan, Johannesburg. He is the author of the bestselling Thabo Mbeki and the Battle for the Soul of the ANC. His new book, The Democracy Gap: Africaʼs Wasted Years, will be released in the U.S. in May, 2009. Close.

William M. Gumede

South Africa

William M. Gumede is a former deputy editor of The Sowetan, Johannesburg. more »

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February 25, 2007 1:26 PM

Budget Surplus With Poverty?

South Africa is enjoying the first budget surplus in a generation, and the first ever in recorded African history. Should a county have a budget surplus and low budget deficits, low inflation, no debts etc. in a country where you have 25% unemployment and lots of poverty? It's good to have a country's book's balance, but what if a majority is without food. What about the U.S. case where there are large deficits but people are relatively well-off? I'm just trying to think this through for myself, and would appreciate your thoughts.




October 20, 2008 3:19 PM

Crisis Hits Poor Countries Hardest

As the U.S., Europe and rich countries throw billions in lifeboats to end financial crises, spare a thought for poorer developing nations, who without such means are facing absolute disaster.

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