The African Development Bank has approved a R5 billion loan to the South African government to combat the effects of COVID-19 on the economy. It’s the first ever crisis response budget that the Bank has approved. This, amidst retail trade sales decreasing by 12% year-on-year in May 2020 – the largest negative annual growth recorded.
What does this mean for the ordinary South African? Can government afford to service this loan?
Let’s discuss this now with economist, Azar Jammine
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From: SABC News