South Africa is seeking 95 billion rand ($4.99 billion) from multilateral lenders to help it fight the COVID-19 pandemic, a senior Treasury official said on Sunday. Africa's most advanced economy is talking to the International Monetary Fund (IMF), World Bank, New Development Bank of the BRICS and African Development Bank to source funding to contribute to a 500 billion rand rescue package aimed at cushioning the impact of the new coronavirus on businesses and poor households. The IMF has said South Africa is entitled to apply for up to $4.2 billion in response to the crisis, and Finance Minister Tito Mboweni said on Friday the government could negotiate for a facility of "maybe between $55 and $60 million" at the World Bank.
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