Moody’s puts SA on notice over Eskom bailout | IOL Business Report

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Moody’s puts SA on notice over Eskom bailout

Moody’s yesterday put South Africa on notice that it might downgrade the country following the further bailout of Eskom, which is likely to widen the government’s debt-to-gross domestic product and put further constraints on the already burdened fiscus.

“The lack of a strategy to return Eskom to more stable financial situation that would reduce the need for government support exacerbates the problem for the government,” Villa said. The latest financial support for the power producer means the government would have supported it with R49bn in the 2019/20 financial year and R56bn in the 2020/21 period and R23bn in financial year 2022, with at least another R100bn in the pipeline in the coming years.

Maarten Ackerman, the chief economist at Citadel, said the situation government is in right now is a negative one, from a fiscal and ratings perspective.

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 /  🏆 46. in PT
 

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Moody sounds very Indian...just saying

What does Moody's want SA to do? It takes time and money to fix Eskom, so what now?

Strange ..... A company that supplies ±90% of homes in SA with electricity AND THEY CANNOT MAKE A PROFIT !!! SomethingStinks

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