The International Monetary Fund has approved South Africa’s request for emergency financial support for an amount of US$4.3 billion to help the country mitigate the social and economic impact of the COVID-19 pandemic.  The IMF funding is a low interest loan that contributes to the government's fiscal relief package while respecting South Africa’s decisions on how best to provide relief to the economy and those worst affected by the current crisis.  A debt ceiling would set a self-imposed limit on how much the government can borrow. With an expenditure ceiling already in place, the budget process will take place within very tight constraints. 

Guest: Oscar Van Heerden, International Relations Scholar and Political Commentator 

Host: Africa Melane, Early Breakfast

Topic: IMF debt ceiling