Flash briefing: Govt court victory against public servants who want higher salaries; emerging markets; euro; rand

Loading player...
* In a major step towards reducing the country’s high state sector wage bill, the South African government has won a court case over public-sector wage increases that it has refused to pay.
* South Africa is among a number of emerging markets with an eyewatering debt mountain. Bloomberg reports that unprecedented stimulus in emerging markets drove debt levels to all-time highs in 2020.
* Fitch Ratings has the highest balance of net negative outlooks for European emerging markets in more than a decade, while Oxford Economics says rising government debt will slow Latin America’s recovery.
* China has led the global recovery from the coronavirus, becoming the only major nation to see growth this year, and is widely forecast to continue driving the rebound in 2021.
* The euro is on track for its best annual performance since 2017; the rand has been trading around R15 to the greenback. Learn more about your ad choices. Visit megaphone.fm/adchoices
16 Dec 2020 10AM English South Africa Investing · Business News

Other recent episodes

Magnus Heystek: Why SA’s middle class is quietly being crushed

South Africans are being told everything is fine. Magnus Heystek says it’s a dangerous illusion. In a wide-ranging conversation with Alec Hogg, the veteran investment strategist warns that falling GDP per capita, rising taxes, weak property returns and flawed retirement structures are steadily hollowing out the middle class. From Regulation…
9 Jan 6AM 41 min

South Africa’s business titans are gone – and David Shapiro explains why

From Brian Joffe to Raymond Ackerman, South Africa once produced business giants who shaped the economy. David Shapiro argues they have been replaced by spreadsheet managers, over-regulation and compliance paralysis, and explains what that loss means for growth, risk-taking and the country’s future.
8 Jan 6AM 54 min