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President Cyril Ramaphosa on Tuesday night announced a "historic" R500bn social and economic support package for the country, saying that the funds will be raised both from existing budget resources and international funding institutions, including the International Monetary Fund (IMF).

The package included a special R20bn Covid-19 health budget, wide-ranging support for the most vulnerable through R50bn in expanded social grants, the distribution of food parcels and vouchers and a R200bn loan guarantee scheme for firms that need additional resources to bridge them through the crisis...

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