Covid-19

The government should take a more active role in the Covid-hit economy

The Reserve Bank ought to step in to rescue those South African companies deemed too big to fail - and there might even be a BEE dividend in it

19 April 2020 - 00:00 By ISAAH MHLANGA, MZUKISI QOBO and WANDILE SIHLOBO

Extraordinary times require extraordinary actions. These were the words of Christine Lagarde, the president of the European Central Bank (ECB) a month ago when the bank took a major decision to embark on a new wave of bond purchases meant to counter severe risks to the eurozone as a result of Covid-19.

The ECB announced that it will buy up to €750bn (R15-trillion) in government and corporate bonds and other assets, to inject much-needed cash into the financial markets and shore up the real economy...

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