IMF

SA seeking R95 billion for COVID-19 social and economic crises

South Africa is seeking to acquire R95 billion of funding from global financial institutions to address the coronavirus social and economic crisis. President Cyril Ramaphosa has announced a R500 billion stimulus package aimed at cushioning the economic impact of the pandemic. The country moves to level-4 of the lockdown from[…]

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IMF to add Islamic finance to market surveillance in 2019

The International Monetary Fund will incorporate Islamic finance into its financial sector assessments of select countries starting next year, aiming to improve regulation in the growing sector. The IMF has traditionally focused on conventional banking, but it has been increasingly engaging with regulators in countries where Islamic finance is now[…]

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Rand improves after IMF growth concerns

The rand returned to its strong level of R14.31/$ on Wednesday after weakening a day earlier due to a strong dollar and growth concerns about South Africa being voiced. “For the first time in a while we saw some rand weakness,” said Umkhulu Consulting’s Adam Phillips on Wednesday. “Having traded[…]

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IMF demands Greece debt relief ahead of vote

The International Monetary Fund can only participate in Greece’s bailout if its European creditors produce a clear debt sustainability, a senior official has said. The threat came on Tuesday, a day before Greece’s parliament were due to start debating on a new package of austerity measures and economic reforms to[…]

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Greece defaults on IMF payment

Greece’s last-minute overtures to international creditors for financial aid on Tuesday were not enough to save the country from becoming the first developed economy to default on a loan with the International Monetary Fund. The IMF confirmed that Greece had not made its scheduled 1.6 billion euro loan repayment to[…]

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