The state is seeking at least $800 million as it considers ways to fund the likely extension of a Covid-19 relief grant that’s scheduled to expire in March, said the people who asked not to be identified because they’re not authorized to speak to the media.
Since the onset of Covid-19, South Africa has pursued concessional loans from multilateral lenders, including the International Monetary Fund and New Development Bank, to help offset virus-induced damage. “Diversifying our sources of funding is an important mechanism to improve the sustainability of South Africa’s debt, lower the cost of funding and enhance our macro-fiscal position,” it said.
Only in Africa do leaders exchange our sweat equity & real wealth of a country 4 printed paper. Money created out of thin air, backed by nothing. The money wont be delivered by plane. Someone clicks on a computer. Voila money created out of thin air! Citizens then inherit debt!
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