Sarb’s Kganyago ‘concerned’ over sovereign-bank links
Financial stability report warns banking sector is exposed to overstretched government finances
South African Reserve Bank governor Lesetja Kganyago has said he is “concerned” that the government’s weak finances could spill over into financial instability.
“Government debt is a concern from a financial stability perspective,” he told reporters today (May 27) as he presented the Sarb’s latest financial stability report.
Sarb macro-prudential economist Alex Smith said gross government debt could hit 85% of GDP by the end of 2021. He noted this implied a trebling of the debt as a proportion
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