HILARY JOFFE: Grants not growth — a short-term fix with long-term risks
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Anglo sets pace for rivals
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Markets calm but outlook takes hit Rating agencies have warned that the riots pose risks to SA s economic recovery from the Covid pandemic and could complicate efforts to fix public finances and implement reforms 18 July 2021 - 00:19 By Hilary Joffe
Financial markets response to SA s week of violent unrest has been surprisingly muted, with analysts suggesting hardened emerging-market investors aren t that concerned as long as there is no threat to President Cyril Ramaphosa s leadership and that SA doesn t resort to authoritarian tactics to crush the violence.
But rating agencies have warned that the riots pose risks to SA s economic recovery from the Covid pandemic and could complicate efforts to fix public finances and implement reforms.
HILARY JOFFE: Fixing SA s long-term investibility a real challenge after the chaos Without getting too econometric about it, the bottom line is that episodes of unrest negatively impact economic activity 18 July 2021 - 00:18 By Hilary Joffe
Perhaps coincidentally, in a week in which SA was experiencing a devastating wave of violence and looting, the International Monetary Fund (IMF) published a blog on its latest research which examines the macroeconomic impact of social unrest.
Without getting too econometric about it, the bottom line is that episodes of unrest negatively impact economic activity not just immediately but more persistently - and an unrest event is associated with a one percentage point reduction in GDP six decades after the event.