CLAIRE BISSEKER: The loneliness of long-suffering finance minister Tito Mboweni

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Nigeria News News

The IMF urged SA to introduce a debt ceiling five years ago, but without political will it’s fruitless

Five years ago the head of the National Treasury’s budget office, Michael Sachs, promised the IMF he would eat his hat if SA government debt hadn’t stabilised in three years. The IMF said it would rather Sachs implement a debt ceiling.

Back to the present, and SA has just been granted a R70bn IMF loan to plug the deficit, with the Treasury promising to consider introducing a debt ceiling. However, with SA’s debt-to-GDP ratio on a seemingly unstoppable course towards 100%, it is arguably too late.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CLAIRE BISSEKER: The loneliness of long-suffering finance minister Tito MboweniThe IMF urged SA to introduce a debt ceiling five years ago, but without political will it’s fruitless
Source: BDliveSA - 🏆 12. / 63 Read more »

CLAIRE BISSEKER: The loneliness of long-suffering finance minister Tito MboweniThe IMF urged SA to introduce a debt ceiling five years ago, but without political will it’s fruitless
Source: BDliveSA - 🏆 12. / 63 Read more »