Does IMF Really Help Africa’s Developing Countries?

Dr Thanti Mthanti, Enior Lecturer At The Wits University's Graduate School Of Business Administration talks about The International Monetary Fund (IMF) on Friday said it had reached a staff-level agreement with Egypt for a one-year, 5.2 billion U.S. dollars standby loan to help the North African country grapple with the novel coronavirus pandemic and its economic fallout. The agreement comes after the Egyptian pound, which had held steady against the dollar for two months, slipped 2.2 percent against the dollar this week, its biggest weekly decline since March 2017.
Sudan began talks this week with the International Monetary Fund (IMF) on a non-funded programme that could pave the way for international financial support. The economic calamity of the coronavirus broke South Africa’s resistance to borrowing from the International Monetary Fund.