/ 21 July 2024

Tapping into gold and foreign reserve to pay debt servicing costs is risky for South Africa

South Africa's Finance Minister Enoch Godongwana Presents Budget
Enoch Godongwana, South Africa's finance minister, delivers his budget in Cape Town, South Africa, on Wednesday, Feb. 21, 2024. Photographer: Dwayne Senior/Bloomberg via Getty Images

Economists say the government can expect to incur inflationary and exchange rate costs from the move

This content is restricted to subscribers only.


Join the M&G Community


Our commitment at the Mail & Guardian is to ensure every reader enjoys the finest experience. Join the M&G community and support us in delivering in-depth news to you consistently.

Subscription enables:

  • - M&G community membership
  • - independent journalism
  • - access to all premium articles & features
  • - a digital version of the weekly newspaper
  • - invites to subscriber-only events
  • - the opportunity to test new online features first

Already a subscriber?
.