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Economics

South African Towns Struggle to Collect $11.1 Billion Debt

  • Municipalities pose increasing risk to the nation’s finances
  • Local authorities owed their own creditors 60 billion rand
   
Photographer: Waldo Swiegers/Bloomberg

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South African towns and cities are in increasingly dire financial straits, with a National Treasury report showing they are likely to collect less than a fifth of their outstanding debt.