'If Tito Mboweni wants to do a deal with the IMF, there is no policy constraint'
President Cyril Ramaphosa’s Cabinet spent Monday discussing possible economic recovery plans.
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.
Source : Cindy Archillies/EWN.