Analysis: SA’s ‘emergency Budget’ in a Covid-19 crisis of lives and livelihoods By Marianne Merten
And the SA Reserve Bank also got its say after having brought forward its May Monetary Policy Committee Meeting when the lockdown was extended.
But the unanimous 100 basis points cut in the repo rate, which effectively means the prime lending rate has now dropped to 7.25%, triggered plaudits from the ANC and Cosatu, although it wasn’t quite enough. “All commercial banks, as well as other financial lenders, need to provide interest-free loan holidays to all consumers in need…
Amid this agreement, how to mitigate economic devastation has created divergence in Cabinet. Mboweni gave as much away in his comments on discussions over the booze and cigarette sales ban. Not ruled out is approaching international financial institutions like the International Monetary Fund , World Bank, African Development Bank or the Brics New Development Bank.
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