Mail & Guardian
Mail & Guardian
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Finance Minister Tito Mboweni. (David Harrison/M&G)
AFRICAN DEVELOPMENT BANK

South Africa gets $4.3bn IMF loan. In return, the country must reform

The loan, which is repayable over five years at an interest rate of 1.1%, comes with various self-imposed conditions such cutting the public wage bill and rationalising support…

  • Thando Maeko
4 min read
After a series of meetings between the treasury and the International Monetary Fund (IMF) earlier this month, staff from the latter institution concluded that South Africa’s growth would sharply deteriorate to just 0.1% in 2023.
AFRICAN DEVELOPMENT BANK

IMF talks are yet to begin

Measures to contain Covid-19, including the lockdown, are costly and hurt the economy

  • Thando Maeko
3 min read