How to end the lockdown and save the economy (while keeping the curve flat)
Never has the world economy come to such an abrupt stop as it has in the past few weeks.
South Africa – already in a recession before lockdown – will not be spared.
Africa’s most developed country’s economy will shrink by 23.5% in the second quarter of 2020, according to Absa.
South Africa’s response to the exponential spread of Covid-19 around the world was fast and decisive with data showing that lockdown has been successful in flattening the curve of infections, buying the country valuable time to prepare for the near-inevitable “wildfire” phase of the outbreak.
It is, however, pulverizing the already-brittle economy.
What happens after 30 April?
How can we ramp up production without losing our hard-won “control” over the Covid-19 outbreak in South Africa?
We need an exit strategy.
The Money Show’s Bruce Whitfield interviewed James Formby, Chief Executive Officer at Rand Merchant Bank.
The two-week extension is a great window period… there’s much more work to be done…James Formby, CEO - Rand Merchant Bank
This isn’t about a tradeoff between lives and livelihoods…James Formby, CEO - Rand Merchant Bank
Austria started to open smaller stores… every two weeks they’re going to do a bit more… only in six weeks will they consider opening restaurants… they will try, and experiment… Denmark is opening daycare…James Formby, CEO - Rand Merchant Bank
We do it [opening the economy] on a gradual, staggered basis…James Formby, CEO - Rand Merchant Bank
Listen to the interview in the audio below.
Source : https://www.123rf.com/photo_145075294_sea-view-with-a-closed-sun-umbrella-and-a-stamp-sign-cancelled-as-a-concept-of-ruined-summer-vacatio.html?term=tourism%2Bcovid&vti=ofd8pvyh9pfaytnqkp-1-99