SA’s public debt is ‘becoming uncomfortable’ – IMF official

South Africa’s public debt, which is approaching 60% of economic output – seen as a red line by ratings agencies, is reaching uncomfortable levels, an IMF official said on Thursday.

Read: Foreigners are dumping SA bonds as junk status looms

“South Africa has the highest level of debt in its history,” the International Monetary Fund’s senior resident representative in South Africa, Montfort Mlachila, told a conference in Johannesburg.

“This is actually quite concerning without a doubt,” he said. “The public debt trajectory is not favourable and becoming uncomfortable.”