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.
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“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.”