South Africa’s finance minister is expected to announce a plan to take on part of power utility Eskom’s mammoth debt in a mid-term budget on Wednesday, although analysts say the legally complex transfer will take time to execute.
State-owned Eskom has been mired in financial crisis for years and has roughly R400-billion in debt it cannot afford to service.
It has required recurring government bailouts that have placed public finances under huge strain, with officials grappling with different ways to solve the problem.Economists say a large portion of Eskom’s debt needs to be absorbed by the state to make it financially […]
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