Treasury pledges to pursue debt ceiling
Letter of intent to IMF implies lobbying for government consensus on reduced public services
28 July 2020 - 16:32
SA has told the IMF that it will seek consensus within the government to introduce a "debt ceiling", which will set a self-imposed limitation on how much the government can borrow in the future.
SA’s public finances are in the grip of runaway debt with one projection stating that government debt will reach 100% of GDP in the next three years if nothing is done.
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