SOUTH AFRICA: Nationwide lockdown from Thursday
● 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 hop… Become a member to read the rest of this […]
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 […]