Multilateral funding provides South Africa with hope

AdobeStock_southafrica_575x375_28July2020
By Mariam Meskin
28 Jul 2020

Junk-rated South Africa has found some relief from its ballooning fiscal deficit through multilateral institutions, which are helping prop up its battered economy. Though the government has supported domestic lenders, there may yet be opportunities for them to enter international markets, some believe.

The IMF has granted South Africa its largest coronavirus emergency loan yet: a $4.3bn package, in what the South African treasury announced was a “low interest loan that contributes to [the] government’s fiscal relief package while respecting South Africa’s decisions on how best to provide relief to the economy and ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial