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'Looters are gonna eat' - Cynical South Africans react to R70bn IMF loan

On paper, this sounds like something that could go a long way in repairing some of the devastation we've seen over the last few months but the reality could tragically be very different and South Africans know it.

Picture: 123rf.com

JOHANNESBURG - It's official! South Africa is getting a massive R70 billion loan from the International Monetary Fund (IMF) for emergency financial support to help the country mitigate the adverse social and economic impact of COVID-19.

On paper, this sounds like something that could go a long way in repairing some of the devastation we've seen over the last few months, with job losses, business closures, government having to make funds available for social support, but the reality could tragically be very different and South Africans know it.

According to the National Treasury, the money will support health and frontline services, protect the most vulnerable, drive job creation, unlock economic growth through reforms and stabilise public debt.

Many have taken to social media since the announcement of the loan approval to express their mistrust of how government will handle these funds.

News of COVID-19 funds and even food parcels being looted and unfair play in tender allocations have made headlines recently, with promises from government that this will be dealt with. But will it?

Meanwhile, here's what some have had to say about the IMF loan.

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