Treasury ‘to leave no stone unturned’ in Covid-19 funding - Mboweni
Finance Minister Tito Mboweni has vowed to leave no stone unturned as the government seeks money to fund its battle against coronavirus.
Speaking at a media briefing on Tuesday, Mboweni confirmed that Treasury is in conversation with several multilateral institutions to fund the Covid-19 fight.
"As far as multilateral conversations are concerned, we are in conversation with most of them. But we are seeking to understand what sort of facilities they are giving us and what it means.
"We are leaving no stone unturned. We will also be speaking further to the New Development Bank, the African Development Bank and other institutions to try and see what can be available to South Africa to tap into," he said.
Acting head for Asset and Liability Management at Treasury Tshepiso Moahloli confirmed that there have also been further discussions with the World Bank.
"We had a long constructive conversation with the World Bank this morning. These are not the Pick n Pay, you need to engage you need to understand the pricing and the condition.
"Treasury is undergoing that process in exploring all funding sources but also making sure that it is done in a responsible manner.”
She added: "At the end of the day, these are not gifts but loans and these need to be repaid so the terms and condition of the loans need to make sense and need to make fiscal sense, as well in relation to how we source the funds and how those funds are then deployed to the various programs.”
Treasury will be meeting with the economic cluster on Wednesday to unveil a stimulus package for the country's economy.