BRIAN KANTOR: Reserve Bank needs to think of an SA beyond Covid-19
The coronavirus is much more than a health crisis; and the margin of safety for many businesses and the self-employed is always very narrow
Nobody knows with any degree of confidence how long the economic disruption caused by the responses to the Covid-19 virus will last. And just how much output and income and wealth (savings) will have been sacrificed.
The survival of any business that services crowds of people is gravely threatened as the Chinese lockdown approach to limit infections is widely adopted. Collateral damage to those enterprises and the large number of self-employed who depend on opportunities to earn income generated by airlines and airports, cruise ships, hotels, shops, restaurants, theatres, conferences, sporting events and their like — even retailers — will be considerable.