Cosatu reacts to IMF loan to SA

Date: Jul 29, 2020

Cosatu reacts to IMF approving SA’s R70bn loan

On Monday, the IMF approved South Africa’s request for emergency funding under its Rapid Financing Instrument, saying this was a low interest loan that would contribute to the government’s fiscal relief efforts without impacting on its sovereignty as it grappled with the impact of the Covid-19 pandemic. Cosatu opposed to government approaching the IMF but later on, in April they decided to endorse government's plan. What has changed and why they were always against this move? On #SAfmBTH with Bongi Gwala spoke to Sizwe Pamla, National spokesperson of Cosatu

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