"This morning in a conversation with the Reserve Bank and the Treasury I indicated that we should proceed and speak to the IMF and the World Bank about any facility that we can access for health purposes," Mboweni said in an interview with the weekly newspaper.South Africa entered a 21-day lockdown on Friday, with people restricted to their homes and most businesses shuttered. The country has reported 1,187 cases of coronavirus and now almost certainly faces a deep recession.
On Friday, the country lost its last investment-grade credit rating when Moody's downgraded South Africa to junk, citing persistently weak growth, fast-rising debt and the impact of an unreliable electricity supply. "We take no ideological position in approaching the IMF and World Bank. They are creating facilities for this environment and SA should also take advantage of those facilities in order to relieve pressure on the fiscus," Mboweni said in the interview.
🤞 Three day and SA already feeling the pinch . But i gues is always best to be prepared.
I thought the country is already in recession.
africaupdates Moody's has got SA right where it wants...
When people wanted government take actions earlier than they did Zweli Mkhize and Cyril Ramaphosa said SA was ready and equipped mos !
But why bcoz motsepe and those jamnandas already donated 3billion
Hey don’t even think about it please!! Next generation will inherit debt ridden country because of your clueless administration of our fund bloody fools!!
Is this good or bad?
We reject this shallow alternative and move by government of today, we don't want to be managed & reconquered by the westerners.
africaupdates BULLSHIT
Isn’t this IMF demands when they give you money: “cuts in social grants, cuts in pensions, layoffs in public service, increased taxes, public service wage cuts, VAT increase, lifting of retirement age, higher pension contributions, privatization”
geoffreyyork The country will not recover unless someone steps in. Seeing and hearing about how people are suffering and small businesses have been obliterated is devastating. And yes it’s a million Xs worse than the US/UK/EU. There are no checks coming in the mail.
Wtf
CRONY AND CADRE DEPLOYMENT IS NOT ALWAYS GOOD FOR A COUNTRY'S GROWTH. NOW ESPECIALLY. SERIOUSLY TIME FOR CHANGE.
We do this, we are gone ... forget fiscal sovereignty. IMF has been hovering for years like a heyna does when spotting a dying animal or human
Stop him!!!
Few weeks ago he said our economy is strong enough to overcome. We are in deeper trouble than we are told as a country
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South Africa may approach the IMF for 'health funding' - MboweniSouth Africa may approach the International Monetary Fund and World Bank for funding to fight the coronavirus that threatens to drag the country's economy deeper into recession, Finance Minister Tito Mboweni said in the Sunday Times newspaper. Hete we go. Health funding to be used for the personal financial health of ANC/SACP cadres. Game over Ku - bird
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BREAKING NEWS: South Africa now has 1170 coronavirus infectionsSouth Africa now has 1170 confirmed cases of the Covid-19 virus, Minister in the Presidency Jackson Mthembu confirmed on Friday. It’s getting worse guys Is this correct, as they are saying that only one person has now died not two 😱😱😱 And people still want the the police to tell them to stay home
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BREAKING NEWS: South Africa now has 1170 coronavirus infectionsSouth Africa now has 1170 confirmed cases of the Covid-19 virus, Minister in the Presidency Jackson Mthembu confirmed on Friday.
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South Africa has one Covid-19 death, NOT two - Health MinisterSouth Africa has only one confirmed death from Covid-19, the Health Minister Zweli Mkhize clarified late on Friday. He has explained the confusion: VAR disallowed 🤨
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31 coronavirus recoveries for South Africa - Health MinisterHealth Minister Zweli Mkhize has confirmed that there have been 31 recoveries so far as South Africa continues to battle the ‘invisible enemy’, the Covid-19 coronavirus. If we work with our Government and everyone take an initiative to corporate with the lockdown, in 3 weeks we can reach over 500 recoveries. It is possible and will be if we all comply and take the lockdown serious
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South Africa has one Covid-19 death, NOT two - Health MinisterSouth Africa has only one confirmed death from Covid-19, the Health Minister Zweli Mkhize clarified late on Friday. He has explained the confusion: Hes arguing over onevdeath... clearly clueless
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