High public debt drives SA’s risk premium, says Nedbank boss Mike Brown

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Loans Loans Headlines News

The government has to borrow an average R2bn daily while foreign appetite for its bonds has fallen

Nedbank CEO Mike Brown has flagged SA’s high public debt as one of the factors driving up the country’s risk premium and increasing borrowing costs across the economy, with the government having to borrow an average of R2bn a day while foreign appetite for SA bonds has fallen.

Brown was speaking after Nedbank reported earnings growth of 11% for the six months to June, in a difficult economy in which the bank had to hike provisions for bad debts by 57%, offsetting a 22% increase in pre-provision operating profit.... There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in LOANS

Loans Loans Latest News, Loans Loans Headlines