IMF okays almost $230 million in coronavirus aid for Niger, Burkina

accreditation

The International Monetary Fund (IMF) has approved emergency aid totalling nearly $230 million to help two Sahel countries fight coronavirus.

The IMF's executive board gave the green light to disbursements of $115.3 million to Burkina Faso and $114.5 million to Niger to address the Covid-19 pandemic, the Fund said in statements late on Tuesday.

LIVE | All the latest coronavirus and lockdown updates

The money is being allocated under the IMF's Rapid Credit Facility, to help meet urgent balance-of-payments needs.

They will also benefit from IMF debt service relief.

The two countries, which rank among the poorest in the world, are also struggling with a jihadist insurgency in the Sahel that has claimed thousands of lives and driven hundreds of thousands of people from their homes.

The IMF has also announced emergency aid for Ghana of a billion dollars and $442 million for Senegal to help them tackle the coronavirus crisis.

On Tuesday, it said it expected sub-Saharan African economies to shrink by 1.6% in 2020, as part of a global contraction of 3.0%.

The GDP of the continent's economic superpowers, Nigeria and South Africa, is expected to shrink by 3.4 and 5.8%.

- Stay healthy and entertained during the national lockdown. Sign up for our Lockdown Living newsletter. Register and manage your newsletters in the new News24 app by clicking on the Profile tab

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Voting Booth
Zama zama crackdown: What are your thoughts on West Village residents taking the law into their own hands?
Please select an option Oops! Something went wrong, please try again later.
Results
Authorities should bring in the army already
11% - 2238 votes
Illegal miners can't be scapegoated for all crime
49% - 9896 votes
What else did we expect without no proper policing
37% - 7514 votes
Vigilante groups are also part of the problem
4% - 748 votes
Vote
Rand - Dollar
16.63
-1.5%
Rand - Pound
20.07
-1.2%
Rand - Euro
16.91
-1.4%
Rand - Aus dollar
11.54
-0.2%
Rand - Yen
0.12
-0.8%
Gold
1,770.27
-0.3%
Silver
19.86
-1.4%
Palladium
2,138.50
-1.0%
Platinum
927.50
-1.1%
Brent Crude
92.34
-3.0%
Top 40
64,064
-1.0%
All Share
70,871
-0.9%
Resource 10
63,237
-3.3%
Industrial 25
87,074
0.0%
Financial 15
16,194
-0.3%
All JSE data delayed by at least 15 minutes Iress logo
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE