Economists and business leaders have welcomed the South African Reserve Bank’s (SARB) decision to cut the repo rate by a further 50 basis points (bps) to 3.75% on 21 May 2020. This has resulted in a reduction of the prime rate quoted by our commercial banks from 7.75 % to 7.25 %. This is the
Aviva Hoekstra
International Financing Institutions’ loans available to government and private companies as relief from COVID-19
By Lolo Mhaga, Aviva Hoekstra & Nicole Goate on
In his address on 21 April 2020, President Cyril Ramaphosa announced that government will be approaching international finance institutions such as the International Monetary Fund, the World Bank, the BRICS New Development Bank and the African Development Bank to help fund the R500 billion COVID-19 economic relief package that will be provided by government.
International…