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SA is back in a debt trap, says Reserve Bank governor as he sounds alarm on dwindling investment | City Press

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Lesetja Kganyago has said that South Africa is back in a trap that it had escaped decades ago where interest rates have to rise because of too much borrowing, poor domestic savings and limited foreign investor appetite for the country’s assets

Lesetja Kganyago, the Reserve Bank governor, delivered the 10th annual Michel Camdessus lecture at the IMF on Tuesday, highlighting South Africa's precarious financial positionReserve Bank governor .

He added that the alternative was an inflationary balance of payments problem,"which is plainly against the South African Reserve Bank’s mandate. This does not make the Reserve Bank popular, but facts are facts."Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

 

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