No room for slips as debt redemptions loom, SA warned
Substantial amounts of debt will mature over the next few years, Standard Chartered warns
03 November 2022 - 05:09
The government cannot afford to make fiscal mistakes given that it has huge quantities of debt maturing over the next few years, which it may struggle to extend or roll over if global financial markets continue to be risk averse, Standard Chartered says.
Standard Chartered head of research for Africa and the Middle East Razia Khan said the government would need to reassure investors on SA’s politics and its resolve to control public spending if it wanted to keep them on side to buy its longer-dated government bonds. If it gave in on public sector wage demands that would be taken badly by investors...
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