South African financing needs to limit social spending

Strikes and violence at South African mines have piled pressure on the government to boost social spending in its 3-year budget plan this week but handouts may be limited by the need to keep bond investors on board.

The violence has highlighted chronic social divides nearly two decades after the end of white-minority rule, prompting President Jacob Zuma to call today for a faster roll out of a government infrastructure plan to address the tensions. Read more...