April 24, 2020 / 1:02 PM / a month ago

S.Africa's finance minister says more than $4 bln available from IMF, World Bank

JOHANNESBURG, April 24 (Reuters) - South Africa’s Finance Minister Tito Mboweni said on Friday there was more than $4 billion 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 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 and $60 million, very small, but we will negotiate as much as we can.” (Reporting by Alexander Winning and Olivia Kumwenda-Mtambo; Editing by Jon Boyle)

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