South Africa is seeking R95-bln from multilateral lenders to help it fight the Covid-19 pandemic, a senior Treasury official said on Sunday.
Africa's most advanced economy is talking to the International Monetary Fund , World Bank, New Development Bank of the BRICS and African Development Bank to source funding to contribute to a R500-bln rescue package aimed at cushioning the impact of the new coronavirus on businesses and poor households.
"The World Bank has said ...South Africa can access a loan of about $50 million, the New Development Bank did say long ago that they have set aside a billion dollars that we can access and again we will be accessing that," Mogajane said. "I am emphasising new money that is cheap because currently the discussions obviously should centre around what the term rates are going to be. That is where we are currently, we are discussing with them ," he said.
Mboweni on Friday played down worries in some governing party circles and within the influential trade union movement that the money would come with onerous conditions.
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