World Bank Loan an indication of increasing desperation – Dion George – POLITICS

DA MP says this is yet another indication that SA has run out of money and is digging taxpayers into deeper and deeper debt

World Bank Loan an indication of increasing desperation

15 May 2022

Note to Editors: Please find attached soundbite by Dr Dion George MP.

The DA notes the announcement from the World Bank that it has approved a R7.6 billion loan to retrospectively finance the procurement of 47 million Covid-19 vaccine doses.

The National Treasury added that this loan forms part of government efforts to reduce debt service costs by making use of cheaper sources of funding.

The recent IMF report detailed their concern over South Africa’s rapidly rising debt obligation and, at our recent meeting indicated that they had not given a loan to the SA government following their recent visit to Washington DC.

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