Last week’s poor global data is indicative of a worldwide economic rough patch. Talk of another massive financial bailout for Eskom has put South Africa on thin ice with Moody’s. The country is said to be fighting a losing battle to keep its last remaining investment grade credit rating. Foreigners have already begun dumping R2..
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The Rand remains on a rollercoaster of volatility -the currency continued to weaken due to the heightened global growth risks after talk of financial bailout for Eskom
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Former adviser has encouraged the South African government to bailout ESKOM (the-bottomless-pit) otherwise load shedding will just continue
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The South African government needs to “bite the bullet” and bail out struggling state-run power firm Eskom, which has asked for R100 billion in government support, the chief executive of Rothschild & Co in South Africa told Reuters.
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