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Ramaphosa takes another World Bank loan

President Ramaphosa has yet taken another loan from the World Bank in the name of COVID-19.

Its January and matric results have just been released. South Africans are celebrating their “greatness” and Ramaphosa is sneaking to the banks of the US to take yet another loan. Plunging the country into deeper debt.

Rating agency’s like Moody had recently labeled South Africa below “junk status”, which begs the question, why would they then borrow such a country more money?

The loan is to the whopping value of $750 Million. South Africa’s Covid-19 Response boost, is what they said in the official statement released by national treasury.

In the statement. The World Bank says it’s giving out this loan to the country to accelerate its COVID-19 response. Anyone who knows what the World Bank does and the kinds of conditions that come with these loans they will know just how tragic this is.

Content created and supplied by: Blackarai (via Opera News )

Moody Ramaphosa South Africa South Africans World Bank

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