By Busi Mavuso
We have hit the economic iceberg. The decision by Moody’s to downgrade our credit rating to junk finally cut SA’s tenuous hold on its last investment-grade rating.
Tonight we head into a first in South Africa’s young history, with the entire population being placed under lockdown for our greater good.
Interventions by governments and monetary authorities around the world have been dramatic in response to Covid-19 – reminiscent of war times.
SA needs to implement structural reforms, which will imbue the state with credibility at a time when it will count the most as investors settle into a post-coronavirus world.
The shock of coronavirus on SA’s economy will be dire, regardless of whether or not the country successfully contains the spread.
SA is caught up in a perfect storm of a weak economy, loadshedding and the Coronavirus. This threatens us with another full-blown recession.
BLSA CEO Busi Mavuso recommends the required stimulus package to best respond to coronavirus, which is proving to have dire consequences on SA’s embattled economy.
By Busi Mavuso
Coronavirus gives SA an opportunity to make bold political decisions and effect the structural reforms we have been talking about
Indecision is a certainty in SA that has long plagued our economy. But now we have an unprecedented new layer of uncertainty added in the form of coronavirus.
It’s time to take strong against illicit trade, which is doing tremendous damage to the economy.
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