Gov't mulls IMF budget bailout

About 40 African states, including nearly all in Southern Africa, have applied for special coronavirus (COVID-19) funds from the IMF. Officials at the institute told BusinessWeek that the applications thus far totalled $16 billion, with about $14.3 billion approved.

South Africa finalised a $4.3 billion loan last week, while on July 30, eSwatini and Lesotho secured $110 million and $49.1 million respectively. Mozambique secured $309 million in April, while Namibia has applied for $273 million.