1. Government has announced a fiscal support package of R500 billion in order to manage the impact of the lockdown on households and business. The details of this package are available on: http://www.treasury.gov.za/comm_media/press/2020/20200428_COVID_Economic_Response_final.pdf
2. South Africa is a member in good standing of the International Monetary Fund (IMF), the World Bank, New Development bank (NDB) and the African Development Bank (AfDB). Part of the benefits afforded to members is borrowing at preferential rates. In light of the recent global crisis and elevated risk, the cost of funding has been significantly affected and government is exploring other alternative sources of funding to fund the government borrowing requirement and to lower the borrowing costs.
The government has approached the IMF, AfDB, World Bank and NDB for financial support related to the COVID-19 impact. The transactions are still being negotiated and the relevant details will be made available by the Minister of Finance once concluded.