South Africa's Banks Brace For Fallout From U.S. Rift

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  Posted by Two Blokes May 28 - Filed in General - #TwoBlokesTrading  - 10 views
  
  South Africa's banks are bracing for further economic turmoil, which could dent their trade finance revenues and expose their overdependence on sovereign bond holdings. The probable loss of South Africa's privileges under the Africa Growth and Opportunity Act, which allows eligible sub-Saharan African countries to export products duty-free to the US, will hurt trade finance activities at the country's major banks.