China’s Xi Jinping, the leader of the biggest economy in the bloc, said the world is at a ‘critical juncture’ amid growing trade tensions
The state-owned institution’s financial woes have led farmers and agribusiness to consider making an offer on the bank, starting a cooperative bank or partner with global commodities futures traders
The New Development Bank pledges billions of dollars towards infrastructure development in South Africa. Implementing infrastructure development is one of the measures the country is counting on to recover from the economic effects of Covid-19
The loan, which is repayable over five years at an interest rate of 1.1%, comes with various self-imposed conditions such cutting the public wage bill and rationalising support to the state-owned entities
The International Monetary Fund has approved a $4.3-billion – R71-billion – loan to South Africa to bolster the economic relief package
Public-private partnerships and big infrastructure builds have been suggested as ways to boost South Africa’s flagging economy. Another option to consider is green bonds, which would also help achieve climate crisis goals
The finance minister has found money for the Covid crisis, but the cupboard is bare and he warns that a fiscal crisis is possible in 2024
The finance minister will cut departments’ allocations according to their cloth as one measure, and savings will have been made from underspend during the lockdown
The International Monetary Fund’s emergency funding is cheaper than other options and is low risk. The Reserve Bank creating money to finance government debt is a better option
Measures to contain Covid-19, including the lockdown, are costly and hurt the economy
The New Development Bank is facing questions about the transparency and fairness of its loans
The prospective rating agency is said to challenge the three pro-west dominant credit rating agencies Fitch, Moody’s and S&P global rating.
Funding and investments between Global South countries are seemingly positive, but also obscure, writes Jakkie Cilliers.
The recent G20 summit presented the Brics countries with an opportunity to fast-track plans for the establishment of a joint financial institution.
The grouping’s smallest member could become the New Development Bank’s biggest winner.