SOUTH AFRICA: Pandemic response and consensus faltering
● As South Africa concludes its first week of “Level 4” pandemic restrictions, the government’s poor handling of the limited restart and the continuation of seemingly irrational restrictions is fast eroding rare consensus around President Cyril Ramaphosa’s hitherto strong pandemi… Become a member to read the rest of this article Username or E-mail Password […]
SOUTH AFRICA: Piecemeal economic response
● Over the next day or two, decisions from today’s cabinet meeting may emerge regarding social grants and the phased restart of some sectors. ● The South African Reserve Bank (SARB) continues to lead the economic policy response to the pandemic and the extended lockdown. ● … Become a member to read the rest […]
SOUTH AFRICA: Pandemic adds uncertainty to government’s wage bill battle
● The South African Reserve Bank (SARB)’s rare 100 basis point rate cut today, 19 March, will provide a welcome monetary boost. ● But the fiscal outlook is expected to worsen further, particularly if the anticipated recession and any fiscal stimulus measures combine with a fai… Become a member to read the rest of […]
SOUTH AFRICA: COVID-19 could not hit at a worse time
● The fallout from the COVID-19 pandemic will only sharpen the National Treasury’s fiscal dilemmas and weaken South Africa’s odds of holding on to its final investment-grade credit rating. ● Within South Africa’s borders, the number of COVID-19 cases is ticking up, but draconi… Become a member to read the rest of this article
SOUTH AFRICA: Mboweni’s do-or-die budget
● Expectations ahead of the budget presentation on 26 February are largely pessimistic in the context of deteriorating economic growth and skyrocketing public debt. ● Finance Minister Tito Mboweni will try – against all odds – to avert the loss of South Africa’s final investme… Become a member to read the rest of this […]