Zimbabwe is headed for a health and economic catastrophe from the coronavirus pandemic because its debt arrears mean it cannot access foreign lenders, the finance minister warned in a letter to the IMF.
Zambia will get 2.7 billion kwacha ($145 million) from multilateral lenders, Britain and the United States to help fight the coronavirus, the ministry of finance said on Thursday.
Kenya’s central bank cut its benchmark lending rate again on Wednesday, to 7.0% from 7.25%, saying measures to tackle the impact of the coronavirus were having an effect but it needed to do more due to the adverse economic outlook.
Nigeria’s President Muhammadu Buhari is seeking approval to borrow 850 billion naira ($2.36 billion) from the domestic capital markets to fund the 2020 budget, according to a request read in the upper house of parliament on Tuesday.
EFF leader, Julius Malema, has called on government to first exhaust all internal avenues, to help save the country from the negative economic impact of the coronavirus, before requesting for funding from the International Monetary Fund and the World Bank.