‘SA COVID-19 relief budget could rise to R800 billion’ – Tito Mboweni

President Cyril Ramaphosa's relief budget of R500 billion could ultimately grow to much more than that, according to Mboweni.

‘SA COVID-19 relief budget could rise to R800 billion’ – Tito Mboweni

South Africa will seek coronavirus relief aid from the International Monetary Fund (IMF) and the World Bank IMF where it is eligible for up to $4.2 billion, Finance Minister Tito Mboweni said on Friday.

“The IMF has indicated themselves that South Africa is entitled to apply for up to $4.2 billion in response to this crisis,” he told a news conference.

“At the World Bank it seems for now we could negotiate for a facility of… maybe between 50 and 60 million (US) dollars – very small, but we will negotiate as much as we can in this regard”.

Relief package could swell

President Cyril Ramaphosa on Tuesday announced a “massive” $26 billion relief package to support the economy and vulnerable parts of society during the coronavirus pandemic.

But the finance minister said when everything is put together, the “combined fiscal and monetary policy package” amounted to over R800 billion (US$42.1 billion). 

“This is a major fiscal and monetary policy response, extraordinary!”

With the number of coronavirus cases at 3 953 including 75 deaths, South Africa is the worst affected on the continent.

South Africa’s central bank has forecast that GDP in 2020 will contract by 6.1%, while the IMF has predicted a shrinkage of 5.8%.

By Agence France-Presse

Source : The South African More   

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COVID-19 latest: Cases rise to 4 793, three more deaths reported

Health Minister Zweli Mkhize said that there are 247 more cases, and was sad to report a further three deaths due to the virus.

COVID-19 latest: Cases rise to 4 793, three more deaths reported

Health Minister Zweli Mkhize announced on Monday 27 April that South Africa’s COVID-19 cases have risen to 4 793, an increase of 247 since Sunday.

There have been three more reported deaths, with two fatalities in the Western Cape and one in KwaZulu-Natal (KZN).

a 79-year-old man from the Western Cape “presented with shortness of breath and chest pain,” according to the Department of Health.

“His co-morbidities included diabetes, hypertension, chronic kidney disease and cardiac disease,” they said.

A 79-year-old man from the Western Cape “presented with shortness of breath and chest pain,” they said.

“His co-morbidities included diabetes, hypertension, chronic kidney disease and cardiac disease,”

In KZN, a 54-year-old male who presented with respiratory distress died, also having had underlying diabetes.

There have also been 178 470 tests completed across the country, with 9 827 completed in the last 24 hours.

Provincial breakdown

The Western Cape remains the domestic epicentre of the pandemic, with growing cases being reported in the retail industry.

Mkhize said on Monday that the is concerned that cluster outbreaks may occur in the Province when businesses begin to open up on Friday 1 May.

“We must expect that there would be areas where we will say we can proceed with bringing up normal economic activities and open up various industries and transport routes and so on, but there will be areas where we might have to stop that and say we thought this was safe, it’s no longer safe, let’s go back,” he said.

The provincial breakdown of positive COVID-19 cases is as follows:

  • Western Cape – 1737 cases;
  • Gauteng – 1353 cases;
  • KwaZulu-Natal – 902 cases;
  • Free State – 111 cases;
  • Limpopo – 31 cases;
  • North West – 28 cases;
  • Mpumalanga – 26 cases;
  • Northern Cape – 17 cases;
  • Eastern Cape – 588 cases;
  • 9 unallocated cases.

This is a developing story.

Source : The South African More   

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