Speakers: Busi Sibeko, Léonce Ndikumana and Duma Gqubule
South Africa’s economic and social policy responses to the Covid-19 pandemic have been strongly contested. Its economic policy response has brought into sharp focus the underlying debate about the role of the state, and particularly monetary and fiscal policy. The ‘sound money’ view is that it would be imprudent for South Africa to allow the government deficit to rise further in any circumstances. Critics of this view have argued that South Africa has been ‘stuck in stabilisation…’ with a cost-controlling rather than a developmental state. In this view, the latest crisis is just another manifestation that South Africa is stuck in a state of ‘permanent economic emergency’ where it is never ‘allowed’ to make the expenditures and policy shifts necessary to address the country’s deep-lying economic and social structural problems. This panel, the first of two on the economic and social impact of the pandemic, will address these issues.
About the APORDE programme: APORDE is a two-week high-level annual seminar that brings together academics, policy-makers and civil society representatives to investigate economic development options. It is aimed at building capacity in the South, particularly in Africa and founded on the need to broaden perspectives on development thinking and policymaking.