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

File: The recession was less severe but still deep and "the ascent out of this calamity is likely to be long, uneven, and highly uncertain," IMF chief economist Gita Gopinath said.

File: The recession was less severe but still deep and "the ascent out of this calamity is likely to be long, uneven, and highly uncertain," IMF chief economist Gita Gopinath said.

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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

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