South Africa needs to keep spending growth at 2-3pc: IMF

CAPE TOWN: The key to keeping a lid on South Africa's debt is for the National Treasury to stick to its plans of keeping growth in spending at around two to three percent, the International Monetary Fund said on Wednesday.

"The key to keeping debt from exploding beyond this and containing it and bringing it down, in our view, is limiting spending growth going forward," Abebe Selassie, assistant director at the IMF's Africa department told members of parliament.