Home South Africa News Mboweni to approach World Bank, IMF if SA runs out of funds...

Mboweni to approach World Bank, IMF if SA runs out of funds to fight COVID-19

Tito Mboweni

Finance Minister Tito Mboweni on Sunday said he would have to approach the World Bank or the International Monetary Fund (IMF) if South Africa ran out of funds to fight the coronavirus.

There are at least 1,280 confirmed cases of the virus in South Africa, with two deaths.

The Motsepe, Rupert and Oppenheimer families have pledged R1 billion each to help the government tackle the spread of COVID-19 and its impact on the economy.

Following weekend reports that Mboweni would take advantage of any funding made available by the IMF and the World Bank, he said that no talks had started for now.

Mboweni said that if he were to seek funding, he would start with development banks such as the BRICS Bank.

But economist Sifiso Skenjana said seeking funding should not be solely the work of government.

“The virus has certainly set a new tone that businesses ought to come to the table to collaborate or to partner with government to solve the developmental challenges we’re got. So, the opportunity now is making sure that we can crowd in collaboration from businesses, from labour and civil society.”

Skenjana said after the virus was contained, South Africans should not expect the economy to return to normal and should rather expect a new normal.

In other news – Inside A-Reece’s sweet 23rd Birthday celebration – Pictures

Mzansi rapper A-Reece was born on the 27th of March and he just celebrated his birthday in a smart, simple and sweet way two days ago.

A-Reece

He turned 23 years old and we wish him many years and blessings in his life, and it is truly a blessing, as so many people passed on without reaching such an age. Taking to social media he shared how he celebrated his special day and it looks he enjoyed it. continue reading

Source: EWN