Righting a big wrong

A very important step is being taken by the state as it begins to pay back its debts to the private sector, because the criminal policy of arrears being allowed to build up over the years was beginning to choke the life out of this crucial part of the fragile economy.

The gradual repayment of overdue returns and other debts will certainly kick-start the market, and for some businesses it will provide a lifeline that will allow them to step back from the brink of closure and continue their operations.

Perhaps even more importantly, it is a move that will reinforce the credibility of the state, which has been quick to punish individuals and businesses that are indebted to it even when the reason is that they simply did not have the money or ability to pay their dues, while allowing itself to amass significant debts without having to suffer any consequences.

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