18 Apr

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South Africa's contingency reserves won't be spent on Eskom, Transnet, finance minister says

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Karin Strohecker
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Finance Minister Enoch Godongwana has assured the IMF and World Bank that using the country's reserves will be for debt only and not ailing state enterprises
Finance Minister Enoch Godongwana has assured the IMF and World Bank that using the country's reserves will be for debt only and not ailing state enterprises
Jaco Marais

BUSINESS

South Africa will use future drawdowns of its Gold and Foreign Exchange Contingency Reserve Account to curb its debt burden, Finance Minister Enoch Godongwana said, adding he was pondering tax hikes and expenditure cuts in the next post-election budget.

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