Finance minister Tito Mboweni says close to R80-bln available from IMF, World Bank

Finance Minister Tito Mboweni
Finance Minister Tito Mboweni
Image: Esa Alexander

JOHANNESBURG - Finance Minister Tito Mboweni said on Friday there was nearly R80-bln available from the International Monetary Fund and World Bank to help South Africa fight the COVID-19 crisis.

"We too are entitled to approach the IMF and World Bank for funding. The IMF has indicated themselves that South Africa is entitled to apply for up to $4.2 billion (R79-bln) in response to this crisis," Mboweni said.

"At the World Bank it seems for now we could negotiate for a facility of maybe between $55 (R104-bln) and $60 million (R113-bln), very small, but we will negotiate as much as we can." 

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