South Africa May Approach IMF Over Virus Impact

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South Africa may approach the International Monetary Fund for the first time ever to help with funding to deal with the fallout from the coronavirus outbreak, Johannesburg’s Sunday Times reported, citing Finance Minister Tito Mboweni.

While the minister isn’t currently considering an emergency budget, he also advocates asking the World Bank and the New Development Bank for assistance, the newspaper said.

“In a conversation with the Reserve Bank and the Treasury I indicated that we should proceed and speak to the IMF and the World Bank about any facility that we can access for health purposes,” he said, according to the newspaper. “We take no ideological position.”

– Bloomberg

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