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South Africa, at the time the world’s largest producer of gold, lost its position as a central player in the international monetary system.
The decision allows for an immediate disbursement of $487.5 million, bringing total disbursements under the arrangement to $3 billion.
“If the IMF is serious about the green recovery and a clean and climate-resilient transition they need to start walking the talk themselves."
This is the second disbursement under the RCF that brings total IMF COVID-19 emergency support to Malawi to US$193 million.
This is the second purchase COVID-19 under the RFI to Gabon. It aims at helping Gabon in meeting its urgent balance of payments needs.
"The COVID-19 crisis heightens the importance of a steadfast implementation of pro-growth reforms to ensure sustainable and inclusive medium-term growth.”
The COVID-19 pandemic is evolving in South Africa at a challenging time. With severe structural constraints to growth and economic activity.
The IMF has approved a 12-month stand-by arrangement for Egypt, with access equivalent to SDR 3.76 billion (about US$5.2 billion or 184.8% of quota).