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BREAKING NEWS: IMF board approves $4.3bn loan to SA

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South Africa Headlines News

IMF says the Rapid Financing Instrument loan equals SA's full quota

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.

Source: Loan Digest (loandigest.net)

 

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