SA has cheaper debt options to deal with Covid fallout, says IMF
It’s up to government to tap into rates lower than the open market, says Kristalina Georgieva
SA, which borrowed more than R80bn from international institutions in 2020, should consider accessing cheaper sources of funding as it grapples with the fiscal impact of the Covid-19 pandemic and associated lockdowns, the head of the IMF said.
"How SA can tap into more financing that is available at lower rates, this is for the SA leadership to decide," Kristalina Georgieva, MD of the international institution that lent SA $4.3bn (R65bn) in 2020, said in a media roundtable on Wednesday. This is something the country should be exploring, she said, without discussing whether the IMF would be a potential source...