Troika report - A lot done but more to do ...

IT is little compensation to a cart horse being flogged by its driver that they are nearing their destination but, if it could, it might take some hope from the notion that once they arrive the flogging might stop.

Yesterday’s positive assessment by troika officials of our efforts to implement our bailout programme may not have been quiet a flogging but getting to this point certainly felt like one.

Reminding us, as if we needed reminding, that “major challenges” lie ahead IMF’s Ajai Chopra said we are doing the right thing but warned against losing sight of the risks. He also referred to the fact that our recovery, no matter what we do, depends on an increase in demand in the economies we export to.