The IMF has completed its annual staff visit to SA urging the government to 'downsize Eskom’s balance sheet and restore its commercial sustainability'. | Fin24
The IMF says Eskom and Transnet must be improved"decisively and quickly".The IMF has completed its annual staff visit to SA urging the government to"downsize Eskom’s balance sheet and restore its commercial sustainability".
However, it is increasingly likely that Finance Minister Enoch Godongwana will make an announcement on Eskom debt in the medium-term budget policy statement in October."Any solution to Eskom’s debt problem must be preceded and accompanied by concrete and credible actions to downsize the company’s balance sheet and restore its commercial viability. These include efforts to cut costs and collect arrears, as well as a more predictable tariff-setting mechanism.
The IMF says that the"operations, finances and governance of Eskom and Transnet need to be improved decisively and quickly, as these are key obstacles to private investment and growth".The IMF also expresses concern about Transnet, which it says"needs to restore the operational capacity of the freight rail system and improve the efficiency of its ports". This should include accelerating reforms that attract private sector investment.
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