South Africa’s new debt relief laws will make it tougher to get a loan

New debt relief laws to write-off debt South Africa’s new debt relief laws will harm its international standing and may ultimately lead to a further credit downgrade. This is according to Dawie Roodt, chief economist at the Efficient Group, who said that the new legislation will also add to the country’s growing national debt. “We’re […]

South Africa’s new debt relief laws will make it tougher to get a loan

Consequences of the new debt relief bill  The new debt relief bill could have dire unintended consequences, Dawie Roodt, chief economist at the Efficient Group, has warned. The National Credit Amendment Bill was drawn up by the portfolio commit-tee on trade and industry in the fifth parliament. The law allows low-income workers to extract themselves […]