What Happened: South Africa's escalating public debt is "worrying," yet the country does not require a bailout, a senior IMF official has said, Reuters reported Aug. 15.
Why It Matters: South Africa continues to face record levels of public debt that have surpassed 55 percent of its gross domestic product, resulting in growing speculation about a potential bailout from the International Monetary Fund.
Background: The country's ruling African National Congress has been struggling to address the country's poor economic situation, which is mired by rising unemployment, escalating debt, low growth and an outflow of skilled labor.
- Can Ramaphosa Halt South Africa's Rot? (July 22, 2019)
- South Africa: An Economic Policy Squabble Goes Public (June 5, 2019)
- South Africa's Election Will Be a Referendum on Pro-Business Policies (May 1, 2019)