Time to rev up SA’s economic reform as coronavirus grips – Terence Corrigan

Markets are currently experiencing lows and volatility that have not been seen for decades, not even during the credit crunch of 2009 with the Dow Jones experiencing losses not seen since the 80s. The Johannesburg Stock Exchange fell by 29% over the past week. When President Cyril Ramaphosa announced the country’s state of disaster on Sunday night; he acknowledged that the coronavirus pandemic would have a “significant and potentially lasting impact on our economy”, with exports and tourist arrivals declining. Before this announcement, the Big Four accounting firms estimated that as much as R200m and 1,000 jobs will be lost due to disruptions resulting from the coronavirus. Terence Corrigan writes in the Daily Friend that the coronavirus compounds South Africa’s mounting risks and believes structural reforms of the economy are needed now more than ever. – Linda van Tilburg

Reform all the more urgent as SA faces coronavirus risks

By Terence Corrigan*

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