Bondholders brace for 300 seconds of tension in South Africa's Budget | Business

Reducing Eskom’s liabilities will allow the loss-making company to raise funds to carry out plant maintenance and strengthen the power grid. There have been planned electricity cuts every day this year, and for 13 consecutive months, a record based on Bloomberg calculations.

But taking over the liabilities will add to the state’s overall debt burden of almost 5 trillion rand and to its debt-service costs, the fastest-growing expenditure line item for about a decade. The yield on Eskom’s unguaranteed dollar debt maturing in 2028 is climbing for an eighth consecutive day Tuesday, the longest such streak since September. A measure of the company’s risk of default though has remained steady at June 2022 lows.

"I think there is a growing recognition that we can no longer tolerate delays in taking the urgent and bold steps that are needed to start to restore Eskom to standalone financial sustainability," Constantatos said.In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.

_Business Christ almighty the ANC gave fuqqd up big time

_Business

_Business Enough godongwane is still accused of raping a women in a massage palour.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Cyclone damage in New Zealand could exceed $8bn, finance minister warnsThe total cost to the government could be similar to the amount spent rebuilding Christchurch after the 2011 earthquake, Grant Robertson says
Source: BDliveSA - 🏆 12. / 63 Read more »

Scottish finance minister Kate Forbes joins leadership contestForbes is the third candidate to enter the race since Nicola Sturgeon’s surprise resignation last week
Source: BDliveSA - 🏆 12. / 63 Read more »

‘Sin’ industries place more pressure on finance minister | The Citizen🍻Sugar & alcohol industries plead with the finance minister to curb tax hikes which could lead to job loss, while they are still recovering from Covid-19 repercussions and dealing with load shedding. sintax TheCitizenNews
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Sugar industry wants levy scrappedThe South African Canegrowers Association wants the Finance Minister to halt the sugar tax. Agreed.. What's the levy being used for other than to enrich.. another form of tax under the guise of 'we care so greatly for your health' .. Scrap Fuel Levy too.
Source: eNCA - 🏆 49. / 51 Read more »