Rand Slumps as Eskom Rescue Plan Falls Short of Expectations
- Currency drops as much as 1.1%; sovereign bond yields climb
- Eskom paper didn’t give details on debt restructuring or CEO
Company flags fly outside the Eskom Holdings SOC Ltd. Megawatt Park headquarters office in Johannesburg.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
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South Africa’s rand slumped and sovereign bond yields rose as the government unveiled a much-anticipated rescue plan for Eskom Holdings SOC Ltd. that failed to reassure investors about the power utility’s financial sustainability.