Namibia Applies for $273 Million IMF Loan to Fight Coronavirus


Namibia has approached the International Monetary Fund for a 4.5 billion Namibian dollar ($273 million) emergency loan to help the government battle the Covid-19 pandemic, the Finance Ministry said.

The southern African nation has experienced a surge in infections, with 1,917 reported cases and eight deaths to date.

“We submitted an application to the IMF last week,” Finance Ministry spokesperson Tonateni Shidhudhu told Bloomberg. “We will assess the terms and conditions to see if they are favorable.”

Neighboring South Africa was Monday granted $4.3 billion by the Washington-based lender, the largest emergency disbursement for any country yet, to assist with fighting the coronavirus.

Read More: Namibia, Lesotho Report First Deaths From Coronavirus

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.