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Assessing and promoting civil and minority rights in South Africa.

[Source: Bloomberg by Michael Cohen & Paul Vecchiatto.]

South Africa’s government has spent months mostly talking about how to save the debt-stricken state power utility Eskom Holdings SOC Ltd., spur economic growth and get its shaky finances back on track. Financial realities may force an end to the dithering.

The government will have to make some decisions by Oct. 30, when Finance Minister Tito Mboweni is due to deliver his mid-term budget policy statement and set out how massive bailouts for Eskom will be funded at a time when growth and tax revenue are falling short of target. That’s two days before Moody’s Investors Service is scheduled to make a call on the nation’s only remaining investment-grade credit rating.

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South Africa at a Glance
58 780 000 (mid 2019 estimate)
4.3% y/y in August 2019 (CPI) & +4.5 y/y in August 2019 (PPI)
3.1% q/q (2nd quarter of 2019)
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