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Foreign Investors Are Fleeing South Africa's Bond Market: Chart

Foreign investors have dumped a net 11.5 billion rand ($813 million) of South African bonds in the five days since Finance Minister Malusi Gigaba delivered his mid-term budget statement to lawmakers. That’s the most in a similar period since Donald Trump’s victory in U.S. presidential elections almost a year ago. Investors are concerned that South Africa’s local-currency bonds may lose their investment rating as the government piles on new debt to plug a widening fiscal deficit.