South Africa advised to seek fund from IMF cover art

South Africa advised to seek fund from IMF

South Africa advised to seek fund from IMF

Listen for free

View show details

About this listen

 The Institute of International Finance has advised South Africa to seek funding from the International Monetary Fund given its high debt levels, large capital outflows and a potentially deep recession. The IIF said it expected South Africa’s economy to contract by 2.5 percent in 2020, but said waning demand, travel restrictions and pandemic-related closures could lead to a deeper recession. The group, which was created by 38 banks in leading industrialised countries, called South Africa's economic situation "increasingly untenable". It said entering a program with the IMF could bring much-needed funding and help shore up investor confidence. --- Support this podcast: https://anchor.fm/newscast-africa/support --- Send in a voice message: https://anchor.fm/africabusinessnews/message Support this podcast: https://anchor.fm/africabusinessnews/support
No reviews yet
In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.