March 13, 2019 / 9:05 AM / a year ago

South Africa's debt trajectory too high, no buffers for global crisis - cenbank

South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg, file. REUTERS/Siphiwe Sibeko

CAPE TOWN (Reuters) - South Africa’s rising debt trajectory will make it difficult to weather a significant global economic downturn, the central bank deputy governor said, adding it would take at least a decade to bring the debt-to-GDP ratio down to the 30 to 40 percent range.

Deputy governor Kuben Naidoo also said on Wednesday that growth in Africa’s most industrialised economy was seen hovering around the 2 percent over the next few years.

Reporting by Wendell Roelf; Editing by Catherine Evans

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