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If we don’t keep debt on a sustainable level our sovereignty will be undermined, Masondo warns

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Deputy Finance Minister David Masondo.
Deputy Finance Minister David Masondo.
Ziyaad Douglas, Gallo Images

Deputy Finance Minister David Masondo says if the nation's debt - currently totalling R4 trillion - is not kept at a sustainable level, the country's sovereignty will be undermined.

"If we were to avoid going to the International Monetary Fund [IMF] and World Bank and protect our sovereignty, we need to work carefully on our debt. It's [at] R4 trillion now, and if we don't keep it on a sustainable level, it is at that point that our sovereignty will be undermined," Masondo said.

On Thursday, he took part in a mini-plenary debate in Parliament on South Africa's most recent loans from the World Bank.

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