The World Bank has told South Africa’s government it has to cut its wage bill to qualify for a loan of as much as $2-billion and agree the money won’t be used to bail out insolvent State companies, a person familiar with the situation said. Those conditions have stalled negotiations on the loan that began in April, the person said, asking not to be identified because the content of the discussions have not been made public. The World Bank said it will only comment if an agreement is reached. South Africa’s National Treasury didn’t respond to requests for comment.
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