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The Economic Devastation of Lockdown

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01 April
๐—ง๐—ต๐—ถ๐˜€ ๐˜€๐˜๐—ผ๐—ฟ๐˜† ๐—ผ๐—ฟ๐—ถ๐—ด๐—ถ๐—ป๐—ฎ๐—น๐—น๐˜† ๐—ฎ๐—ถ๐—ฟ๐—ฒ๐—ฑ ๐—ผ๐—ป ๐Ÿฎ๐Ÿต ๐— ๐—ฎ๐—ฟ๐—ฐ๐—ต ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฌ. Financial markets and the world economy are reeling from the impact of COVID-19. At home, the pain of lockdown is just beginning to set in. As the global community fights to contain the pandemic and already depressed economic activity all but grinds to a halt, Carte Blanche examines how South Africans are bracing for the impact.
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๐—ง๐—ต๐—ถ๐˜€ ๐˜€๐˜๐—ผ๐—ฟ๐˜† ๐—ผ๐—ฟ๐—ถ๐—ด๐—ถ๐—ป๐—ฎ๐—น๐—น๐˜† ๐—ฎ๐—ถ๐—ฟ๐—ฒ๐—ฑ ๐—ผ๐—ป ๐Ÿญ๐Ÿณ ๐— ๐—ฎ๐—ฟ๐—ฐ๐—ต ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฐ. In the Eastern Cape, thousands suffer from severe malnutrition. Itโ€™s a condition that has led to the deaths of at least seven children in the province, and a crisis that requires significant funding and political will to resolve. But in the Buffalo City Metropolitan Municipality, home to one of the provinceโ€™s biggest cities, the priority seems to be multi-million rand vanity projects that have become a financial drain on the municipalityโ€™s coffers. Despite being cash-strapped, the municipality established a development agency tasked with boosting tourism and economic development; an agency that is now cashing in on major projects funded by the municipality and its ratepayers. In East London, what shouldโ€™ve been a world-class beachfront upgrade has disintegrated into nothing more than a glorified โ€œstoepโ€, while the bill for the Waterworld Fun Park revamp has ballooned to an eye-watering R120 million. Carte Blanche investigates why an entity with a poor track record for delivery is still in business. Find more exclusive content on Carte Blanche: The Podcast: https://linktr.ee/carteblanchetv