Government Debt

Shocking R57.5bn Budget Deficit a Sign of More Woes for SA

Data from the National Treasury shows that the budget deficit for the three months of the 2019/20 financial year ballooned to R57.5 billion from a deficit of R27.59bn in the comparative period of the 2018/19 fiscal year. The shortfall wa...

Joburg Post·over 4 years ago

Fitch Ratings Revised Outlook on Debt Adds to Country’s Woes

The myriad problems facing South Africa’s economy compounded on Friday after Fitch Ratings revised the outlook on the country’s sovereign debt downwards from stable to negative, a move that usually precedes a rating downgrade. The rating...

Joburg Post·over 4 years ago

Rand Weakened After Moody's Scathing Warning on Eskom Bailouts

Market analyst Andre Botha said on Wednesday that the scathing statement by ratings agency Moody' Investor Services on Eskom's bailout has caused the rand to weaken even further, trading near R15 to the dollar on Tuesday. The local curre...

Joburg Post·over 4 years ago

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