As taboos on IMF aid crumble, Algeria remains an African holdout

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A man reads a newspaper in Algiers, Algeria. Picture: Billal Bensalem/NurPhoto via Getty Images
A man reads a newspaper in Algiers, Algeria. Picture: Billal Bensalem/NurPhoto via Getty Images

BUSINESS

On a continent where a checkered experiences with the IMF or distaste for foreign interference have meant trepidation towards the lender, the economic havoc wreaked by the Covid-19 coronavirus is sparking some sudden turnarounds.

The two most populous nations, Nigeria and Ethiopia, are now accepting IMF help, and even South Africa – where the governing ANC has preached self-reliance since the fall of apartheid – is negotiating a $4.2 billion (R72 billion) loan.

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