Head Topics

IMF board approves $4.3 bln loan to help South Africa to fight pandemic

  • 📰 SowetanLIVE
  • ⏱ Reading Time:
  • 8 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 63%

South Africa Headlines News

The IMF said the Rapid Financing Instrument loan, equal to 100% of South Africa’s IMF quota, or shareholding, will help fill urgent balance of payments needs from pandemic-caused fiscal pressures.

The International Monetary Fund said on Monday its executive board approved $4.3 billion in emergency financing for South Africa to help the country address the “severe economic impact” and health challenges of the coronavirus pandemic.

It also will “limit regional spillovers, and catalyze additional financing from other international financial institutions,” the Fund added.

Source: Healthcare Press (healthcarepress.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BREAKING NEWS: IMF board approves $4.3bn loan to SAIMF says the Rapid Financing Instrument loan equals SA's full quota
Source: BDliveSA - 🏆 12. / 63 Read more »

PICS | This is what ten years of Miss South Africa winners look like | ChannelAs we wait for this year's Miss South Africa top 10 finalists to be announced, we take a look at the women who wore the crown from 2009 to 2019.
Source: Channel24 - 🏆 48. / 51 Read more »

South Africa records 12 204 new Covid-19 cases, 312 deaths
Source: IOL - 🏆 46. / 51 Read more »

IMF warns COVID-19 pandemic could widen economic gender gapThe IMF pointed out that women are also disadvantaged by the fact that they tend to do more unpaid domestic work - on average, about 2.7 hours per week.
Source: eNCA - 🏆 49. / 51 Read more »

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 »