Tax & Spend

South Africa Lays Out Options to Compel Better Borrowing Control

Enoch Godongwana, South Africa’s finance ministerPhotographer: Dwayne Senior/Bloomberg

South Africa stepped up its debate about adopting a binding rule to control government borrowing in a nation where debt-service costs consume a fifth of tax revenue.

The Treasury released a 33-page discussion document on Wednesday alongside the annual budget laying out the arguments for a so-called fiscal anchor to cap loans and bolster confidence in strained public finances.