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'If Tito Mboweni wants to do a deal with the IMF, there is no policy constraint'

20 April 2020 6:33 PM
Tags:
ANC
Cyril Ramaphosa
Cabinet
Enoch Godongwana
Adrian Saville
GIBS
Gordon Institute of Business Science
Cannon Asset Managers
Economic Recovery Plan
coronavirus in South Africa
covid-19 in south africa

The Money Show’s Bruce Whitfield interviews ANC Head of Economic Transformation Enoch Godongwana and Dr Adrian Saville (Gibs).

President Cyril Ramaphosa’s Cabinet spent Monday discussing possible economic recovery plans.

FILE: Finance Minister Tito Mboweni. Pictures: EWN.

The country’s economy has been pulverized by the nationwide lockdown to slow the Covid-19 outbreak.

Ramaphosa aims to produce a single document encapsulating the main priorities of the plan to help businesses survive the crisis.

Monday was the 25th day of lockdown.

The Money Show’s Bruce Whitfield asked Enoch Godongwana (Head of Economic Transformation at the ANC) what the economic recovery plan looks like.

He also asked Dr Adrian Saville (CEO of Cannon Asset Managers and Professor at Gordon Institute of Business Science) for comment.

We’re trying to achieve two conflicting objectives…

Enoch Godongwana, Head of Economic Transformation - ANC

There are no factional issues… There’s no dissent at all… We’ll engage the IMF, but we’ll always protect the sovereignty of our country… We’re united… If Tito Mboweni tomorrow wants to do a deal with the IMF which is palatable, there is no policy constraint.

Enoch Godongwana, Head of Economic Transformation - ANC

We’re still going to continue flattening the curve…

Enoch Godongwana, Head of Economic Transformation - ANC

The economy is in such a precarious position…

Dr Adrian Saville, CEO - Cannon Asset Managers

You can look after lives and livelihoods… In the fog of war… what people are looking for is a sense of direction… and guidance… We’ve stepped into a massive economic hole… We really are scratching at the margin of the stimulus that is needed.

Dr Adrian Saville, CEO - Cannon Asset Managers

The sooner we go [to the IMF] the more it equips us to retain our sovereignty… We want to stay in charge… We’ve run out of fiscal road…

Dr Adrian Saville, CEO - Cannon Asset Managers

For more detail, listen to the interview in the audio below.




20 April 2020 6:33 PM
Tags:
ANC
Cyril Ramaphosa
Cabinet
Enoch Godongwana
Adrian Saville
GIBS
Gordon Institute of Business Science
Cannon Asset Managers
Economic Recovery Plan
coronavirus in South Africa
covid-19 in south africa

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