Part 2/9:
As of recent reports, South Africa has been classified with junk status, indicating that it is no longer considered an investment-grade economy. This classification is significant, revealing that the nation's debt has surged to alarming figures, amounting to approximately $311 billion. The annual interest payable on this debt exceeds 200 billion Rand, translating to a staggering daily interest obligation of about 800 million to 1 billion Rand, which does not even touch on the repayment of the principal debt itself.