The International Monetary Fund said Thursday it will extend its flexible access to emergency funding for an additional 18 months to help nations severely impacted by the Covid-19 pandemic.
“Lockdowns have been the sole option for containing the virus,” said IMF Africa chief Abebe Aemro Selassie
Cynical South Africans fear that this latest cash injection could be chowed by corrupt officials, after the IMF sent another R65 billion to SA this week.
Despite the IMF providing $16-billion in financing to 33 countries in the region during 2020, more help is still needed, organisation warns.
The ruling party is becoming increasingly desperate to meet its wage demands. But paying off ANC salaries with the IMF loan is a major red flag…
Shadow minister Geordin Hill-Lewis has claimed that the government used the billion-dollar IMF loan to help bailout SAA last month.
Without help, low-income nations in Africa and elsewhere are at huge risk of losing recent gains due to the pandemic, the IMF warns.
Tito Mboweni, the IMF and even the DA all seem to have found common ground on introducing a ‘debt ceiling’ to Mzansi. Allow us to explain…
South Africa’s IMF loan agreement comes with a few clauses that aim to prevent corruption gripping hold of COVID-19 relief funds.
The IMF gave the nod for the R70 billion loan on Monday, 27 July 2020, which is aimed at aiding the country as it navigates the economic hurdles arising from the COVID-19 pandemic.
Government would have access to as much as $50m (R915m) from the World Bank and $4.2bn (over R70bn) from the IMF
Opposition leader John Steenhuisen has made a drastic move on Thursday, asking the IMF to stop the ANC using their funds to favour BEE organisations.
President Cyril Ramaphosa’s relief budget of R500 billion could ultimately grow to much more than that, according to Mboweni.
The EFF says government should cut its ‘bloated’ cabinet instead of taking loans from the IMF and World Bank to fund the coronavirus outbreak.
South Africa’s Finance Minister Tito Mboweni says he will approach the IMF and World Bank for assistance in light of the COVID-19 crisis.
Our banking system is sound. Our foreign exchange-denominated debt is low and the flexible exchange rate is a shock absorber. So smile a little…
National Treasury and The International Monetary Fund (IMF) find that South Africa’s largest risk is Eskom, and weak economic growth.
The International Monetary Fund is of the opininion that South Africa is perfectly capable of sorting out its own problems without a loan.
The IMF, in its main findings, found that SA’s growth outlook is dependent on the pace of structural reforms, particularly at Eskom.
Cyclone Idai was one of the worst cyclones in decades to hit Mozambique, Zimbabwe, Malawi and Madagascar.
Something is in the water, according to the EFF.
The International Monetary Fund (IMF) says land reform needs to be done by the book.
Things are looking a little rosier.
We’re not exactly blessed with alternatives, here