CENTRAL BANK TO SIGN $1 BILLION SYNDICATED LOAN

SOUTH African Reserve Bank governor Tito Mboweni said on Tuesday that the central bank would sign a syndicated loan of more than $1.0-billion with commercial banks by the end of July. He gave no details on the terms of the loan and declined to comment on whether some of the proceeds would be used to further reduce the central bank’s forward book, seen as the Achilles heel for the rand. – Reuters