● On Sunday evening, 24 May, President Cyril Ramaphosa announced that, from 1 June, South Africa’s pandemic risk level would be reduced from the current 4 to 3.
● Although infection rates are still rising, Ramaphosa has made significant restart concessions in response to economic pressure mounting from all sides.… Read the rest
In an address late on 13 May, President Cyril Ramaphosa said that current “Level 4” lockdown regulations would be maintained countrywide until the end of May, but promised several amendments over the coming days in response to growing criticism of various seemingly irrational lockdown regulations.… Read the rest
● 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 pandemic response.… Read the rest
● 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.… Read the rest
● Late on 9 April, President Cyril Ramaphosa announced that the current 21-day lockdown would be extended by two weeks, until 30 April.
● While the government’s public health response has been well communicated and resolute, questions around the pandemic’s disastrous economic impact will come into sharper focus, including proposals for Covid-19 social grants.… Read the rest
● President Cyril Ramaphosa has invoked the Disaster Management Act to enforce a nationwide lockdown from 26 March until 16 April to limit the spread of COVID-19.
● Taking its cue from Asian models, the administration is opting for decisive early-stage intervention, in the hope of avoiding a more severe public health and economic disaster down the line.… Read the rest
President Cyril Ramaphosa this evening, 23 April, announced that the government will implement a “risk-adjusted strategy” to easing the current lockdown restrictions beyond Thursday, 30 April, when the current five-week lockdown is due to end.… Read the rest
● This evening, 21 April, President Cyril Ramaphosa announced a ZAR 500bn (USD 26bn) economic stimulus plan, a massive step up from the meager fiscal and tax interventions announced to date.… Read the rest
● South Africa’s currency and fiscal woes have taken another hit from Fitch’s 3 April downgrade of the sovereign’s long-term foreign and local currency credit ratings from BB+ to BB, with a negative outlook.… Read the rest
● 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 failure to deliver on the government’s promise to cut down the wage bill.… Read the rest
