WATCH: SA has not approached IMF

The International Monetary Fund says South Africa has not approached it is for COVID-19 related funding support. Courtesy #DStv403

JOHANNESBURG - The International Monetary Fund  (IMF) says South Africa has not approached it is for COVID-19 related funding support.

There’s been growing speculation that government would be forced to approach the IMF for not only COVID-19 related assistance but broader budgetary support.

READ: SA won't consider IMF adjustment programme: Mboweni

Although IMF funding is available for South Africa, the country may not need it at this stage.

“The government is able to finance itself, in local currency and domestically so that's a very very important strength you have,” said Abebe Aemro Selassie is the Director of the IMF's African Department.

Finance Minister Tito Mboweni has said South Africa will not consider IMF funding accompanied by a structural adjustment programme as it battles to contain the economic impact of the coronavirus pandemic.

Source
eNCA