ANALYSIS: IMF, World Bank and others to fund Ramaphosa’s R500bn bailout
The catch is that the emergency funding must get directly to companies and the hungry as rapidly, and corruption free, as possible
Finally, after a plethora of headlines about SA’s economic implosion, President Cyril Ramaphosa has unveiled an unprecedented R500bn “social relief and economic support package” – equal to 10% of the country’s GDP. About R200bn of this package is in the form of loan guarantees to banks, R100bn is to “protect and create jobs”, and R50bn will be used to boost welfare grants.
Peter Attard Montalto, head of capital markets research at Intellidex, describes the package as “clearly a bazooka”. But he warns that there are significant details still missing, and “questions over how implementable large parts of it are”...
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.