IMF Meet To Consider South Africa’s $4.2 Billion Loan Request || WATCH

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The International Monetary Fund (IMF) is meeting to consider South Africa’s $4.2 billion or R70-billion loan request. The Cyril Ramaphosa led administration indicated that it intends to use the loan to fund the fight against the novel coronavirus.

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South Africa, with over 450 000 confirmed coronavirus cases, is the worst affected African country and is in the top-five worst affected countries globally.

That country’s economy, like economies of almost all African countries, was already receding when COVID-19 emerged and the lockdown is doing less to save the situation.

Watch the SABC News $4.2 billion or R70-billion video below for more.

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