SA’s fiscal policy remains the Achilles’ heel of the economy, with runaway municipal debt presenting a risk of further bailouts for Eskom, asset manager Coronation says.

Nishan Maharaj, head of fixed interest at Coronation, suggested in a note that the National Treasury would also find it difficult to follow through with its commitment in the medium-term budget policy statement not to bail out cash-strapped Transnet. He joins an emerging consensus in the investor community that the freight and logistics group needs shareholder support...

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