The New Development Bank of the BRICS group of nations has approved a second $1 billion loan to South Africa’s government to fight the COVID-19 pandemic, the bank said on Thursday.
South Africa’s public finances were in bad shape before COVID-19 struck and have deteriorated since, as it has recorded the most coronavirus cases on the continent and imposed a strict lockdown that shuttered much of its economy.
“The loan will support the Government of South Africa in its efforts to contain the economic fallout of…
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