South Africa’s central bank warns ANC of spending risks

by MMC
0 comment

South Africa is strapped for cash and the country’s central bank is issuing a stark warning to the ruling African National Congress: You can’t spend your way out of trouble.

“Deterioration in fiscal risks leads to higher interest rates,” says Reserve Bank governor Lesetja Kganyago said Thursday after keeping interest rates at 8.25%. “Foreigners will want to be compensated.”

You may also like

Leave a Comment

The news website dedicated to showcasing Africa news is a valuable platform that offers a diverse and comprehensive look into the continent’s latest developments. Covering everything from politics and economics to culture and wildlife conservation

u00a92022 All Right Reserved. Designed and Developed by PenciDesign