Time not on the government’s side in Eskom debt woes
The state will have to make tough decisions at the end of October when Tito Mboweni delivers his mid-term budget policy statement
The government has spent months mostly talking about how to save debt-stricken state power utility Eskom Holdings, spur economic growth and get its shaky finances back on track. Financial realities may force an end to the dithering.
The government will have to make some decisions by October 30, when finance minister Tito Mboweni is due to deliver his mid-term budget policy statement and set out how huge bailouts for Eskom will be funded at a time when growth and tax revenue are falling short of target. That is two days before Moody’s Investors Service is scheduled to make a call on the nation’s only remaining investment-grade credit rating...