South Africa’s debt trajectory too excessive, no buffers for world disaster: central financial institution

CAPE TOWN (Reuters) – South Africa’s rising debt trajectory will make it difficult to weather a significant global economic downturn, the central bank deputy governor said, adding it would take at least a decade to bring the debt-to-GDP ratio down to the 30 to 40 percent range.

Deputy governor Kuben Naidoo also said on Wednesday that growth in Africa’s most industrialized economy was seen hovering around the 2 percent over the next few years.

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