The International Monetary Fund approved R71-billion in emergency funding for South Africa, the largest emergency disbursement for any country yet to assist with fighting the coronavirus pandemic.
South Africa plans to announce a R350-billion infrastructure programme after talks with the private sector and multilateral lenders, said Paul Mashatile, the treasurer-general of the ANC.
South Africa is entitled to as much as R80-billion in emergency funding from the International Monetary Fund should it request financial support to fight the coronavirus, and it could do so with few strings attached.
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.
South Africa has no fiscal space left and must implement strong budget consolidation and state-owned company reforms to ensure its debt sustainability, the International Monetary Fund said.
The threat of an International Monetary Fund bailout, unthinkable a few years ago, may force South Africa’s government to push through the reforms it needs to rescue the economy.
Regulators will need to “step up” to contain any dangers emanating from Facebook’s planned libra token, but shouldn’t attempt to crush the initiative, according to International Monetary Fund acting MD David Lipton.
The global smartphone boom that’s helped propel Asia’s economic growth and reshape trade channels in recent years may have peaked. That’s one of the observations tucked into the International Monetary
Mining cryptocurrencies is far too energy intensive and is consuming as much electricity as a G-20 economy, International Monetary Fund MD Christine Lagarde said. “The bitcoin mining, which is this accelerated and augmented
The currency that was forecast to perform the worst in emerging markets this year is also the one benefiting most from the clamour to boost returns in the wake of the UK’s Brexit vote. The rand has strengthened