FINANCE minister Mthuli Ncube says the government has set aside US$30 million from the US$960 million received under the International Monetary Fund (IMF) special drawing rights (SDRs to create a revolving fund to support industry retooling.
Ncube had promised to use part of the SDRs as a cash guarantee to give banks comfort to provide the much-needed credit to stressed businesses in foreign currency under a new stimulus package facility.
Advertisements
Finance Minister, Mthuli Ncube
Subscribe to The Financial Gazette
This is premium content. Subscribe to read article.
Login if you have purchased