A financial crisis confronting SA’s state power utility has become a national debt problem.

Finance minister Tito Mboweni on Tuesday unveiled a second multibillion-dollar bailout for Eskom Holdings within five months, aid that may force the cash-strapped government to increase borrowing and taxes. That could in turn trigger a credit-rating downgrade and enormous outflow of funds, raise the cost of new debt and stymie efforts to revive the moribund economy.

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