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We must follow our president’s example. Declaring a national lockdown required intellectual fortitude. Just last month President Cyril Ramaphosa was punting the fantasy of a sovereign wealth fund. We the people must also dispatch our delusions.

The country’s sovereign debt, along with much commercial and household debt, must be restructured. The good news is that sustained high growth can follow. Yet this requires broad policy reversals, whereas February’s state of the nation address and budget speech made clear that the government had ceased pursuing a high-growth path. Leaders outside the government have also not offered workable growth plans...

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