ARTICLES RELATING TO BAILOUTS

Bailouts carry major risk for debt to GDP ratio, warns Kganyago

2019-07-24 13:05

Bailouts for state-owned companies risk pushing the country’s debt-to-GDP ratio to among the highest in emerging markets, South African Reserve Bank Governor Lesetja Kganyago has warned.

Wayne Duvenage: R100bn Eskom bailout - the bitter pill we may be forced to swallow

2018-12-09 11:12

Eskom’s dire need to attract support for its recent indication of a R100bn state bailout requires greater transparency and explanation of its business plan, says Wayne Duvenage.

How crises and bailouts have changed Greece’s economy

2018-08-20 21:23

Greece is about to exit its bailout, a symbolic move past the debt crisis that exploded eight years ago and transformed the country’s economy and the lives of its people.

No bailout for councils hit by VBS Bank collapse - Mkhize

2018-07-02 17:33

Government won’t bail out 13 municipalities that lost about R1.65bn they invested in VBS Mutual Bank before it collapsed in March, says Minister Zweli Mkhize.

Gigaba preaches prudence as SA’s borrowing requirement rises

2018-02-21 14:25

Government will have to borrow R191bn in 2018/19, despite adjusting its debt management strategy during the last year to fund a large revenue shortfall.

Judgment reserved on Bankorp-CIEX matter

2017-12-07 12:40

Judgment on the Bankorp-CIEX report has been reserved and the court will endeavour to deliver judgment early 2018.

SARB’s attack could cost Mkhwebane her job, PP counsel argues

2017-12-06 14:50

Public Protector Busisiwe Mkhwebane’s legal counsel has argued that the SARB has launched a personal attack on her integrity which could cost Mkhwebane her job.

Mkhwebane ditched ABSA to meet BLF instead, court hears

2017-12-05 15:25

Instead of granting ABSA its request for a meeting, the Public Protector chose to meet with other parties - including ABSA’s adversary BLF - before finalising the Bankorp-CIEX report.

Court to review Bankorp-CIEX report on apartheid bailout money

2017-12-05 10:03

A court will review the Public Protector’s report on apartheid bailout money for Bankorp which was bought by ABSA, to determine if there are still monies outstanding to the Reserve Bank.

Treasury on mini budget: The low hanging fruit has been picked

2017-11-03 17:56

South Africa is not considering a bailout from the International Monetary Fund, despite "unprecedented" challenges, says National Treasury.

 

Gordhan on Eskom: No room for 'endless bailouts'

2019-01-29 20:54

Public Enterprises Minister Pravin Gordhan has said the fiscus does not have room for "endless bailouts".

INSIDE LABOUR: A classic case of economic ill health

2018-11-02 10:04

No wonder there's resentment over SOE bailouts when ordinary people bear the brunt of healthcare that relies on the contents of bank accounts, says Terry Bell.

Treasury says no bailout approved for state firms

2018-08-13 16:37

National Treasury denied that the government has approved a bailout package of R59bn for state-owned companies.

SAA seeks urgent funding after latest loss

2018-05-17 09:09

South African Airways says executives will meet Treasury officials every two weeks to address urgent funding needs after the ailing carrier reported a 7th consecutive year of losses - and the worst since 2015.

Bankorp-CIEX case in 10 quotes

2017-12-08 21:10

This week the court heard how the Public Protector failed to “apply her mind” during the Bankorp-CIEX probe and possibly breached the Constitution. Fin24 wraps up the top 10 quotes heard in the case.

Bankorp’s lifeboat was unlawful – PP’s counsel

2017-12-07 12:05

The Public Protector’s counsel has argued that the lifeboat extended by the SARB to Bankorp, which was facing insolvency during the apartheid era, was unlawful.

SARB lawyer climbs into Mkhwebane, says she misled, disrespected the court

2017-12-06 12:06

Public Protector Busisiwe Mkhwebane’s conduct during the litigation process of the Bankorp-CIEX report was disrespectful to the law and the courts, the SARB’s counsel has argued.

Bankorp-CIEX: Court rejects Open Secrets' intervention bid

2017-12-05 12:08

The court review of the Bankorp-CIEX report started with non-profit company Open Secrets presenting its case to be admitted as a friend of the court.

Exorcising Dudu Myeni’s ghost

2017-11-12 06:00

From now on, the CEO of SAA would actually be allowed to run the place, said Finance Minister Malusi Gigaba and new board chair Johannes Bhekumuzi “JB” Magwaza at this week’s “unveiling” of the airline’s new board.

'We can't just throw SAA away' - Ramaphosa

2017-11-01 21:00

Deputy President Cyril Ramaphosa pleaded with members of Parliament to give the new SAA board and CEO an opportunity to prove that they can put the airline on a path to financial stability.

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