Investors in the rand want detailed plans about Eskom
The government will provide Eskom with three annual advances totalling R184bn to the end of March 2026 to repay maturing debt and cover interest costs
22 February 2023 – 17:49
Finance minister Enoch Godongwana spurred a brief relief rally in the rand as he presented the country’s budget, unveiling news of anxiously awaited plans to deal with debt at Eskom.
The rand strengthened as much as 0.7% against the greenback, but was little changed shortly after Godongwana finished speaking. The yield on SA’s most liquid debt due in 2026 did hold a decline, in a sign that investors were optimistic that the plan to transfer Eskom debt to the state would not have a dramatic effect on the government’s overall debt metrics…
Source: businesslive.co.za
