05 September 2023 1 Min Read
NEWS LEADER
WATCH: IMF warns cost of government debt could soar by 2028
Business Day TV speaks to Hilary Joffe, Business Day’s editor-at-large
in Economy
IMF first deputy MD Gita Gopinath speaks at an SA Reserve Bank conference in Cape Town on September 1 2023. Picture: ESA ALEXANDER/REUTERS
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The IMF has warned that SA’s interest bill on its growing public debt could triple the size of its health budget within five years, and it projects that the cost of the government’s debt will rise from 19% to 27% by 2028.
Still, the IMF assesses SA’s risk of debt distress as “moderate” thanks to its robust financial markets and strong monetary policy. Business Day TV speaks to Hilary Joffe, Business Day’s editor-at-large for further insights from the Washington-based institution.
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