S.Africa’s Treasury head warns of debt trap if wage cuts do not materialise
South Africa risks sliding
into a debt trap and being forced to approach the International
Monetary Fund (IMF) for bailouts if it fails to push through
more than 160 billion rand ($10.50 billion) worth of cuts to
public sector wages, the head of the National Treasury said on
Wednesday.
into a debt trap and being forced to approach the International
Monetary Fund (IMF) for bailouts if it fails to push through
more than 160 billion rand ($10.50 billion) worth of cuts to
public sector wages, the head of the National Treasury said on
Wednesday.
Posted by Reuters
