The original article can be found here.
Article highlights:
- The rand weakened the most in five months and benchmark bonds sold off as rolling power cuts, flood damage and signs of a Covid-19 comeback added to worries about the country’s economic outlook.
- Eskom warned the country may have more than 100 days of electricity blackouts this year because of outages. The government will ask parliament for additional funding of R1 billion rand to repair infrastructure damaged by deadly floods in KwaZulu Natal.
- This hampers plans to reduce the budget deficit and curb government debt, a key factor preventing credit-rating upgrades.
