Sarb governor confirms Treasury may draw on reserves to service debt

South African authorities considering use of $25 billion to address ‘expensive’ repayments

Photo: Elske Photography

The South African Reserve Bank (Sarb) confirmed on November 23 it is in talks with the Treasury to transfer reserves to fund the government’s growing budget deficit. 

“We are engaged with the Treasury,” governor Lesetja Kganyago told journalists, Bloomberg reported. Sarb has also “brought in international expertise” to advise on the capital position of the central bank, Kganyago said. 

Discussions are around the size and length of time of the withdrawal, and the cost for the central bank

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account