NEWS ANALYSIS: Tito Mboweni will find that the reformed IMF is not a soft touch
SA’s deteriorating debt situation will not be glossed over in the negotiations
Finance minister Tito Mboweni is certain that it will be a piece of cake to get a $4.2bn loan from the International Monetary Fund (IFM), that there will be no strings attached and that the interest rate will be zero.
This is not 100% accurate but it is probably a fair enough approximation of the situation. The IMF is the global fire brigade, to steal a phrase from economist Mike Schussler, and it wants to put out the fire that the Covid-19 pandemic has started as quickly as it can. It has made its full lending capacity of $1-trillion available and has put $100bn into two emergency facilities, which countries can access fast...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.