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SA has not approached the International Monetary Fund

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The International Monetary Fund (IMF) says South Africa has not approached it is for COVID-19 related funding support. There’s been growing speculation that government would be forced to approach the IMF for not only COVID-19 related assistance but broader budgetary support. Although IMF funding is available for South Africa, the country may not need it at this stage.

The government is able to finance itself, in local currency and domestically so that’s a very very important strength you have,” said Abebe Aemro Selassie is the Director of the IMF’s African Department.

Finance Minister Tito Mboweni has said South Africa will not consider IMF funding accompanied by a structural adjustment programme as it battles to contain the economic impact of the coronavirus pandemic.

In other news – Somizi celebrates 3 million Instagram followers

Congratulations are in order as Idols SA judge and Metro FM presenter Somizi Mhlongo-Motaung reached 3 million followers on Instagram. The “Somizi and Mohale: The Union” star took to his timeline to share the exciting news with snap of himself ready to pop some bottle as he celebrates the milestone. Read more

Source: eNCA