IMF to decide on SA's COVID-19 emergency funding

File: South Africans will learn the actual terms of the IMF financing when its board of directors considers the country’s request for financial assistance.

File: South Africans will learn the actual terms of the IMF financing when its board of directors considers the country’s request for financial assistance.

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JOHANNESBURG - The International Monetary Fund is scheduled to meet on Monday to consider South Africa's loan request.

Government is seeking a loan of $4.2 billion (R70-billion) for COVID-19 emergency funding.

READ: IMF to consider SA's loan request

This despite disapproval from the governing party's tripartite alliance partners Cosatu and the SACP.

The IMF is known for issuing loans with stringent conditions related to structural reforms.

But it's reported the loan to SA will not be subject to stringent conditions.

The announcement on the decision is expected later this afternoon.

Source
eNCA