Washington — The International Monetary Fund said on Monday its executive board approved $4.3bn in emergency financing for SA to help the country address the “severe economic impact” and health challenges of the coronavirus pandemic.
The IMF said the Rapid Financing Instrument loan, equal to 100% of SA's IMF quota, or shareholding, will help fill urgent balance of payments needs from pandemic-caused fiscal pressures. It also will “limit regional spillovers, and catalyse additional financing from other international financial institutions,” it added.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CAROL PATON: Will SA be able to live up to IMF commitments?Finance minister and Reserve Bank governor have pledged spending cuts and freeze on public-sector pay to support the $4.2bn loan
Source: BDliveSA - 🏆 12. / 63 Read more »
IMF to give SA R70.6bn 'emergency' loanThe Treasury announced on Monday night that the IMF's board had approved the government's request for 'emergency financial support' to the tune of $4.3bn - around R70.58bn.
Source: TimesLIVE - 🏆 28. / 59 Read more »
Source: eNCA - 🏆 49. / 51 Read more »