SA will start repaying R70bn IMF loan only from 2023
The loan to assist in fighting Covid-19 will be disbursed as a lump sum into the government’s account at the SA Reserve Bank
SA’s $4.3bn (R70bn) emergency facility from the International Monetary Fund (IMF) will be released on Wednesday and the country will only start repaying the loan in 2023.
The foreign-currency loan to assist in fighting the coronavirus pandemic was approved on Monday and will be disbursed as a lump sum into the government’s account at the SA Reserve Bank, Montfort Mlachila, the Washington-based lender’s senior resident representative in SA, said in an interview. ..