South Africa’s IMF Funds Will Be Invested, Earn Interest

South Africa said $2 billion it pledged to the International Monetary Fund will be considered part of its foreign reserves and will only be drawn down in a crisis and after other resources have been depleted.

“The funds will be invested and earn interest,” the Pretoria-based South African presidency said in an e-mailed statement today. “If the funds are drawn down, they will ultimately be repaid.”

To contact the editor responsible for this story: Vernon Wessels at vwessels@bloomberg.net

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