South Africa has been crowned the best country for debt management and sovereign bond issuance in Sub-Saharan Africa.
According to the Treasury, the Emerging Markets Newspaper, an affiliate of the IMF/World Bank Annual Meetings, named South Africa the best country for Debt management and Sovereign Bond Issuance in Sub-Saharan Africa.
The achievement comes just after the World Bank acknowledged South Africa’s excellence in debt dynamics and composition.
Anthony Julies, the Deputy Director-General –Assets and Liability Management at National Treasury received the award for the nation in Washington.
Speaking after he received the award, Julies remarked that the endorsement of South Africa by Emerging Markets Newspaper is a testament to the success the country continues to enjoy in global capital markets.
According to him, South Africa’s deep capital market system, credible judiciary and strong banking system are the major attractions which give investors the much needed confidence.
The achievement he continued, is partly, the outcome of a regular engagements that investors have with senior policy-makers in South Africa. That, he said, ensured that there is constant communication on key policy issues which are pertinent to investors.
“The country is not only recognized for the quality of the deal (price and duration). But also, the National Treasury professionalism in debt management operations (operational, and sustainable composition of the sovereign debt portfolio), a continuance of its debt management commitment given challenging political and economic environment globally and domestically,” stated Julies
Afterwards, he proclaimed that debt sustainability is among the important principles of government’s approach to fiscal management.
“Events of this nature keep South Africa in the limelight given the ongoing funding Programme of government domestic and international markets,” Julies added.