Global economic policy excludes low-income countries from the spending options that developed nations use to buffer their economies in times of crisis, and the pandemic has inflamed that inequality.
Treasurer Josh Frydenberg has announced massive budget deficits of $85.8 billion for the just-finished 2019-2020 financial year and $184.5 billion projected for 2020-2021.
Steven Hamilton, Crawford School of Public Policy, Australian National University; Bruce Preston, The University of Melbourne, and Chris Edmond, The University of Melbourne
It’s far too early to declare victory. The need for conventional economic stimulus has just begun.
South Africa’s management of the COVID-19 pandemic must now shift from a centrally regulated approach to one that enables participation and compliance by communities, workers and businesses.
As countries get ready to re-open their economies, will there be a post-pandemic recovery? History and current economic models suggest those looking for a quick rebound will be disappointed.