South Africa: current situation
December 18, 2020
South Africa missed a deadline to make the first deposit (R327 million) to secure vaccines to fight with COVID-19 and hasn't arranged to make the full payment. The full payment (R2.2 billion) to the COVAX program would secure enough vaccines to supply 10% of South Africa's population.
President Cyril Ramaphosa announced a further tightening of Covid-19 restrictions, citing a spike in infections since December. Up to now, SA has recorded almost 900 000 cases and more than 26 000 deaths.
The total gross loan debt of the national government had increased by 20.3% year-on-year to R3.7 trillion as of September 30. At this rate, the public debt may exceed 80% of GDP at the end of the year. In October, Finance Minister Tito Mboweni warned that the gross debt would rise from roughly R4 trillion this year to R5.5 trillion in 2023/24.
Bonds keep moving down with the yield on the 10-year government bond being at 8.72% (December 17).
Company — South Africa
Full nameRepublic of South Africa
Registration countrySouth Africa