• News
  • Sport
  • TV
  • Radio
  • Education
  • TV Licences
  • Contact Us

For all official information and updates regarding COVID-19, visit the South African Department of Health's website at www.sacoronavirus.co.za

No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • SCI-TECH
  • LIFESTYLE
  • FEATURES
  • OPINION
Home Business

A global stimulus economy recovery plan must be drafted: Jonas

8 November 2020, 6:54 AM  |
SABC SABC |  @SABCNews
File Image: Mcebisi Jonas has also called for the establishment of a new global debt authority.

File Image: Mcebisi Jonas has also called for the establishment of a new global debt authority.

Image: SABC News

File Image: Mcebisi Jonas has also called for the establishment of a new global debt authority.

Former Deputy Finance Minister Mcebisi Jonas says a global stimulus economic recovery plan must be drafted in order for the global economy and developing countries to recover from the impact of the coronavirus (COVID-19) pandemic.

He said this while delivering the online 11th Annual Ahmed Kathrada Lecture under the theme ‘Hope After State Capture – Towards An Agenda for Change.’

Economies around the globe, and especially on the African continent, have been severely impacted by the pandemic which saw the implementation of  nationwide shutdowns.

Jonas has also called for the establishment of a new global debt authority.

“We need a global debt deal for the establishment of a new global debt authority, independent of creditors and debtors interest focused on assisting developing countries with and for example sovereign debt restructuring. Dealing with debt is a small but necessary part of the global fix.”

He says, “We also need a global economic stimulus and rescue plan directed mostly towards developing countries, such a global stimulus could direct global liquidity currently pooled in tax havens, for example, to create technology, digitization, and health infrastructure in the developing world and Africa in particular.”

11th Ahmed Kathrada Foundation Annual Lecture:

Meanwhile, Mcebisi Jonas says US presidential-elect Joe Biden’s victory will enhance South Africa’s path to economic recovery from the impact of the coronavirus pandemic.

Jonas also says Biden will undo the damage done by Donald Trump – including returning the US to the Paris Agreement on Climate Change.

“The COVID-19 denialism we have witnessed in some parts of the world is not assisting. A Biden victory will go some way towards restoring trade relations. We really need a sustained uptake of Chinese demand for commodities. SA remains dependent on commodities exports as a core source of growth. So sustained Chinese growth is so crucial for South Africa’s economy and the world economy. The world is pivoting toward the necessity of climate change solutions with a new impetus to give substance and resourcing for a global climate change deal. Biden has already promised that the US will rejoin the climate change agreement within days of his victory.”

Various reactions to the Democrats victory:

Share article
Tags: South AfricaUnited StatesMcebisi JonasJoe BidenCOVID-19Annual Ahmed Kathrada Lecture
Previous Post

Obama congratulates Joe Biden on his presidential election victory

Next Post

Congratulatory messages continue to pour in for Biden, Harris

Related Posts

The dollar index rose 0.121% to 107.620, after earlier touching 107.68, its highest since July 18.

Dollar hits 1-month high as Fed officials talk up rate hikes

19 August 2022, 4:49 AM
Britain's Foreign Secretary Liz Truss.

UK’s Liz Truss says defining mission will be reviving the economy

19 August 2022, 4:23 AM
Volume on US exchanges was last at 9.43 billion shares, which would be the lowest for the year so far.

Wall St ends higher, Cisco Systems jumps after forecast

19 August 2022, 3:35 AM
The dollar pared gains on Wednesday after the Fed's July meeting minutes showed central bank officials were concerned they could raise rates too far in their commitment to get inflation under control, which was interpreted as modestly dovish.

Dollar jumps as Fed officials say more rate hikes needed

19 August 2022, 1:08 AM
South African currency

Number of properties in Tshwane and Johannesburg municipal debts exceed their value

18 August 2022, 4:32 PM
[File Photo] Members of the Confederation of South African Trade Unions (COSATU) march against job losses in Durban, South Africa, February 13, 2019.

Cosatu urges other unions to join its national strike

18 August 2022, 1:16 PM
Next Post
US President-elect Joe Biden (R) and US Vice president-elect Kamala Harris (L).

Congratulatory messages continue to pour in for Biden, Harris

Most Viewed

  • 24hrs
  • Week
  • Month
  • EMS says fire at Bree Street Taxi Rank in Johannesburg has been extinguished
  • The public has until 18 May to make submissions on Icasa’s regulations for extension of expiry period for data, airtime
  • ANC NEC expected to hold a special meeting on Sunday
  • Eastern Cape flood victims plead for support as access to food, services remains difficult
  • Amathole Regional Secretary elated to have corruption charges against him dropped
  • Elon Musk says he is buying Manchester United
  • Pick n Pay launches new supermarket brand
  • Public has two weeks to make comments on proposed changes to pension funds
  • Home Affairs tightens rules on passport application to curb corruption
  • 14-year-old Eastern Cape learner facing arm amputation after allegedly taking COVID-19 vaccine
  • Home Affairs clamps down on passport fraud and introduces transit visas
  • Mogalakwena Municipality in Limpopo directed to terminate appointment of more than 400 workers
  • Elon Musk says he is buying Manchester United
  • Pick n Pay launches new supermarket brand
  • Public has two weeks to make comments on proposed changes to pension funds

LATEST

[File Image] 31-year-old Fees Must Fall activist Bonginkosi Khanyile sitting in court.
  • South Africa

Bonginkosi Khanyile’s civil unrest case back in court


Hadi Matar of Fairview, New Jersey, who pleaded not guilty to charges of attempted murder and assault of acclaimed author Salman Rushdie, appears in booking photographs at Chautauqua County Jail in Mayville, New York, US August 12, 2022.
  • World

Salman Rushdie attack suspect pleads not guilty to attempted murder, assault


The dollar index rose 0.121% to 107.620, after earlier touching 107.68, its highest since July 18.
  • Business

Dollar hits 1-month high as Fed officials talk up rate hikes


World number one Daniil Medvedev.
  • Sport

Medvedev grinds down Shapovalov in Cincinnati


Britain's Foreign Secretary Liz Truss.
  • Business

UK’s Liz Truss says defining mission will be reviving the economy


Volume on US exchanges was last at 9.43 billion shares, which would be the lowest for the year so far.
  • Business

Wall St ends higher, Cisco Systems jumps after forecast


Weather

  • About the SABC
  • Contact Us
  • Jobs
  • Advertise
  • Disclaimer
  • Site Map

SABC © 2022

No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • SCI-TECH
  • LIFESTYLE
  • FEATURES
  • OPINION

© 2022

Previous Obama congratulates Joe Biden on his presidential election victory
Next Congratulatory messages continue to pour in for Biden, Harris