Growing government debt in Sub-Saharan Africa raises concerns for South African banks, but they seem well prepared for defaults.
Many Sub-Saharan African countries seem to be in a position not that different from the one they found themselves in at the turn of the century: laden with government debt and running large fiscal deficits.
As a result, the sovereign default list is growing, with questions being raised about what this means for South African banks operating in debt-distressed nations — and which country will be next to fall...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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