IMF board OKs loan for South Africa

By Compiled From Wire Service Dispatches With Analysis From Monitor Correspondents Around The World; Edited By Anne Collier

November 5, 1982

Washington

The executive board of the International Monetary Fund approved a controversial $1.07 billion loan for South Africa, the agency announced.

South Africa requested the financial help because of a serious recession, brought on in part by a sharp drop in the price of gold, its major export.