South Africa at risk of financial crisis by 2024 - Finance minister

[Hanno Labuschagne]

South Africa at risk of financial crisis by 2024 - Finance minister

South African Finance Minister Tito Mboweni warned that a fiscal crisis looms for the nation, which was already in a recession before the global pandemic deepened its economic slowdown, according to a report by Johannesburg-based Fin24.

If domestic banks and institutions were to remain the largest holders of South African bonds, a fiscal crisis could spread to banks and the financial system, Mboweni said during a panel discussion on Friday, the website reported.

[Bloomberg]

 

[supersunbird]

Their definition of crisis is different from mine I guess, cause we've been having it.

 

[grok]

I'm surprised they predict it's gonna hold until then..

 

[Jet-Fighter7700]

I suppose saying its already too late is negative news, and wont sell any more newspapers/ generate more clicks.

 

[mister]

My advice to my fellow South Africans is to leave the Republic.

Pay back the money.

 

[randomcat]

My advice to my fellow South Africans is to leave the Republic.

aah honorable uBaba, thank you for your wise advise

 

[backstreetboy]

My advice to my fellow South Africans is to leave the Republic.

Thanks for the hot tip Quincy! Give me the money and I'll can.