IMF approves US$4.3bn financial support to SA to deal with COVID-19 pandemic

JOHANNESBURG - The IMF executive board has approved South Africa’s request for emergency financial support under the Rapid Financing Instrument for an amount of US$4.3 billion to help the country mitigate the adverse social and economic impact of the COVID-19 pandemic.

The country has been hard hit by the pandemic, and this required government to come up with fiscal and monetary measures that would respond to the struggling economy and contain its negative effects to society.

Finance Finance Latest News, Finance Finance Headlines

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

IMF approves $4.3bn ‘financial support’ to South Africa to deal with Covid-19The money will pave the way for government to provide the necessary financial relief required to forge a new economy, says National Treasury.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

JUST IN | IMF approves $4.3 billion loan to SA to support Covid-19 fight | Fin24The International Monetary Fund Executive Board has agreed to extend a $4.3 billion loan to support South Africa's response to the impacts of Covid-19 on the economy.
Source: News24 - 🏆 4. / 80 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 »