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South Africa may approach IMF over coronavirus impact

Mar 29 2020 11:45
Antony Sguazzin, Bloomberg

South Africa may approach the International Monetary Fund for the first time ever to help with funding to deal with the fallout from the coronavirus outbreak, the Sunday Times reported, citing Finance Minister Tito Mboweni.

While the minister isn't currently considering an emergency budget, he also advocates asking the World Bank and the New Development Bank for assistance, the newspaper said.

READ | Daniel Silke | A black swan and a downgrade will test SA

"In a conversation with the Reserve Bank and the Treasury I indicated that we should proceed and speak to the IMF and the World Bank about any facility that we can access for health purposes," he said, according to the newspaper. "We take no ideological position."

Daniel Silke | A black swan and a downgrade will test SA

Daniel Silke | A black swan and a downgrade will test SA

Daniel Silke | A black swan and a downgrade will test SA

Daniel Silke | A black swan and a downgrade will test SA

Daniel Silke | A black swan and a downgrade will test SA

"In a conversation with the Reserve Bank and the Treasury I indicated that we should proceed and speak to the IMF and the World Bank about any facility that we can access for health purposes," he said, according to the newspaper. "We take no ideological po

imf  |  tito mboweni  |  coronavirus  |  sa economy
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