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EFF is concerned by the rising trend of foreign-denominated loans

# The EFF expresses concern about the rising trend of foreign-denominated loans, particularly when there is sufficient liquidity in the domestic financial market. This comes as the government has signed a 27-billion-rand loan agreement with the World Bank to bolster infrastructure spending and support structural reforms. The EFF says South Africa’s debt-service costs have ballooned to over 426-billion-rand per year, but the National Treasury has failed to ensure that this debt translates into jobs or public infrastructure benefits. It adds that these loans appear politically motivated.