South Africa’s reliance on deep local markets to finance most government borrowing is no longer a given. Domestic investors are demanding ever-higher yields as foreigners pull back from the market, just as the National Treasury gears up to refinance almost R1-trillion of debt over the next three years. That’s raised alarm bells at the South African Reserve Bank, which warned last month that the growing reluctance from domestic investors to continue absorbing government issuance could drive borrowing costs even higher.
Alarm bells ring as local investors cool on SA s debt moneyweb.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyweb.co.za Daily Mail and Mail on Sunday newspapers.
Alarm bells ring as local investors cool on South Africa s debt | Robert Brand & Colleen Goko / Bloomberg Opinion businessmirror.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessmirror.com.ph Daily Mail and Mail on Sunday newspapers.