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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessTreasury Could Take on Part of Eskom's $24bln Debt Pile
- 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.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.