IMF Grants $4.3 Billion Coronavirus Loan to South Africa

JOHANNESBURG—The International Monetary Fund agreed to lend South Africa $4.3 billion, the largest loan any African country has received since the start of the coronavirus crisis, underscoring the force of the pandemic’s blow to the continent’s most developed economy and prompting concerns among South Africans that the funds could encourage government corruption.

Since March, the IMF has approved more than $87.3 billion in loans to 78 countries, as it seeks to cushion the economic impact of the pandemic and ensure that governments…

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