Despite the shrinking revenues of commodity-reliant economies, the significant amounts of debt many took onto their balance sheets at the height of the commodity super cycle had gone nowhere, stretching governments’ abilities to service it and still deliver services to growing populations to the limit.
Anglogold Ashanti chairperson Sipho Pityana sketched a grim picture about the economic prospects for some of the emerging economies it operated in, saying that the situation the world over as difficult – both for emerging markets and mining companies. The commodity prices have tanked and the emerging market economies were facing increasing difficulties.
