South Africa

(i) No amount/estimate: 19 March 2020, SARB reduced policy rate by 100bps to 5.25%, (ii) 14 April 2002, policy rate reduced further to 4.25%; (iii) 22 May 2020, cut the repo rate by 50 basis points to 3.75% per annum.

(i) No amount/estimate: 28 March 2020, SARB announced temporary relief on bank capital requirements; (ii) No amount/estimate: 6 April 2020, SARB issued guidance on dividend and cash bonuses distribution to ensure bank capital preservation; (ii) no amount/estimate: SARB directed that loans restructured as a result of the impact of COVID-19 will not attract a higher capital charge; (vii) no amount/estimate: reduced the upper and lower limits of the standing facility to lend at repo-rate and borrow at repo-rate less 200bps; (iv) No amount/estimate: SARB announced that it will handle, on a case-by-case basis, co-operative financial institutions and co-operative banks contravention of prudentials measures including capital adequacy, loan delinquency ratio, loan provisioning requirements, external credit, non-earning assets to total assets ratio, and loan at default window.

(i) No amount/estimate: introduced a four-month holiday for companies’ skills development levy contributions; (ii) No amount/estimate: fast-tracking VAT refund and three-month delay for filing and first payment of carbon tax; (iii) No amount/estimate: increased previous turnover threshold for tax deferrals to ZAR100 million a year; (iv) No amount/estimate: issued a list of essential goods for a full rebate of customs duty and import VAT exemption; (v) No amount/estimate: a tax subsidy of up to ZAR500 per month for the next four months for those private sector employees earning below ZAR6,500;

ZAR50 billion to temporarily increase child support grant for six month.

(i) ZAR2 billion to support SMMEs and spaza shop owners; (ii) ZAR200 million available to assist SMEs in the tourism and hospitality sector; (iii) 27 January 2021, ZAR1.2 bilion launch of Tourism Equity Fund to assist the small, medium and micro enterprises (SMMEs) in the tourism sector.

(i) ZAR20 billion allocated to municipalities for the provision of emergency water supply, increased sanitisation of public transport and facilities, and providing food and shelter for the homeless; (ii) No amount/estimate: 21 October 2020, announced Economic Reconstruction and Recovery Plan focused on infrastructure, mass employment, energy security and digital transformation.

ZAR100 billion for job protection and creation.

(i) 27 July 27 2020, IMF approves USD4.3 Billion in Emergency Support to South Africa to address the COVID-19 Pandemic. (ii) 15 September 2020, GBP2.15 million grant from the UK for the Solidarity Fund as response to the COVID-19 pandemic to support projects to recover from the pandemic, focused on supporting women.; (iii) 8 April 2021, USD1 billion loan from New Development Bank of the BRICS group.