A debt crisis at South Africa's struggling state-owned utility Eskom could be solved by an agreement for government creditors to write off some of their loans in exchange for climate pledges and an equity injection, a deputy minister said on Friday. But one analyst was sceptical about the idea, describing it as unrealistic.
South Africa and Russia local currency government bond markets are undervalued as a rally in U.S. Treasuries and idiosyncratic issues in those emerging markets creates cheap pricing, a Morgan Stanley (MS) emerging market and FX strategist said on Tuesday.
The majority of public sector unions in South Africa have signed a one-year wage hike deal, a cabinet minister said on Tuesday, as government looks to cut a huge spending bill and boost economic prospects worsened by the COVID-19 pandemic.
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