SA's historic step in IMF direction

26 April 2020 - 00:08 By HILARY JOFFE

Announcing the government's R500bn economic support package this week, President Cyril Ramaphosa confirmed that SA has approached the International Monetary Fund (IMF) for funding, along with the World Bank, New Development Bank and African Development Bank.

This is, in a way, a historic moment for an ANC government that has fought shy of the IMF because of the stringent conditions the fund generally imposes on borrower countries and the way these might undermine SA's ability to decide its own economic fate...

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