Discussion on R5 billion loan approved by the African Development Bank to South Africa

Discussion on R5 billion loan approved by the African Development Bank to South Africa

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

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