Duma Gqubule reacts to IMF's R70 billion Covid 19 emergency loan

SAfm — Various organisations, political parties and economist say the government has made a massive mistake by seeking the R70 billion Covid-19 emergency funding from the International Monetary Fund (IMF) . The IMF board yesterday approved the R70 billion support package to help the country weather the economic storm brought about by the Covid-19 pandemic.The loan comes with an interest rate of around 1% and much less stringent condition than the IMF usually attaches to its financing, But Duma Gqubule,Economist and founding director at the Centre for Economic Development, says it is huge mistake.