President Cyril Ramaphosa’s economic advisory council recommends a more gradual debt consolidation of 100 percent with firm commitments to cut the public sector wage bill and restructure state-owned enterprises. Ramaphosa is expected to unveil the government’s economic recovery plan later today. Business Day reports that the council also recommends the Reserve Bank engage in targeted, long-term refinancing operations, which would allow banks to borrow one- to three-year loans at the repo rate on the condition that this is used to support creditworthy firms.