Newsmaker
Apocalypse soon for economy over burgeoning debt
The government needs to act urgently to reverse the loss of confidence in financial markets, says Victor Mphaphuli
08 October 2023 - 07:30
Failure by the government to take the necessary action to reverse the “terrible” loss of confidence in financial markets could lead to catastrophe, says Victor Mphaphuli, head of fixed income at Stanlib, South Africa’s largest fixed income manager.
The clearest indication of this loss of confidence is last month’s financial stability review by the Reserve Bank, which shows the extent to which foreign investors have dumped South African government bonds over the past five years. ..
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