SA to take $1bn Covid-19 loan from New Development Bank

We are actively looking for cheap money around the world, says Treasury director-general Dondo MogajaneThe Treasury says it will take up a $1bn loan from the New Development Bank to fight the Covid-19 epidemic and is still considering facilities offered by other multilateral funding organisations.

SA was hit on Friday by another ratings downgrade from Fitch Ratings, which placed the country’s debt two notches into junk.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

All those corrupt criminals of the MYANC will like that msg.....

What happened to Brics Bank?

Is it not to early to access the loan ? Ekurhuleni wants to procure whatever from Cuba, Gauteng is buying uniforms, just worried what other Metros and Provinces are buying. A well coordinated intervention strategy will take us a long way.

I hope none of that ends up at SAA...we go though billions as if small change

So we decided to make it worse and I crease government debt

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