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Treasury Could Take on Part of Eskom's $24bln Debt Pile

SOUTH AFRICA
  • Bloomberg report that the South African Treasury are finalizing plans to take on a part of beleaguered utility Eskon's debt pile, but the plans remain subject to cabinet and lawmaker approval.
  • As part of Ramaphosa's energy plans, he'd committed to resolving Eskom's debt woes by October this year - this is further colour on that plan.
  • This story suggests a key factor of that will be the Treasury taking on debt themselves (Eskom's total debt seen at around $24bln). Other measures include the sale of Eskom's coal-fired power plants.
  • Recall that the last time SA government bailed out Eskom was 2019, after which the Treasury had to up the size of their weekly auctions, resulting in higher yields across the curve.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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