The Asia-Pacific region is recovering from its worst recession in living memory, but Covid-19 scars will be deep everywhere, cautions the International Monetary Fund. It’s not expecting a global trade-led recovery, with coronavirus containment measures keeping borders closed and weak global growth.
The IMF is advocating structural change across the world that facilitates green growth with tomorrow’s, and not yesterday’s, world in mind and vigilance against unsustainable public debt. These are the same types of points emphasised by business leaders and analysts (excellent analysis here) as SA gets set to hear the details of how finance minister Tito Mboweni will deliver on President Cyril Ramaphosa’s New Deal next week. Messages conspicuously missing from CR’s statement to Parliament on Thursday about his economic recovery plan.
PS: This hot topic is covered in the BizNews Thursday noontime webinar (today) when broadcaster Tim Modise will be joined by former Statistician-General Dr Pali Lehohla, Khandani Msibi of NUMSA Investments, and Phumlani Majozi, senior fellow with African Liberty to debate the merits of an ‘Austerity versus Expansionary Budget to Fund South Africa’s Economic Recovery’. Free, but you must register here: https://attendee.gotowebinar.com/register/1324111475714234383.
