National Treasury in talks with City of Joburg over financial crisis

The National Treasury and the City of Johannesburg are still in talks to address the metro's financial crisis.

Deputy Finance Minister Ashor Sarupen says Finance Minister Enoch Godongwana is currently engaging with the municipality's political leadership.

This follows Godongwana's strongly worded letter, which was leaked this week, revealing that creditors were owed R25-billion while the city only has R3.9-billion in available cash.

The minister also instructed Mayor Dada Morero to halt the implementation of the wage agreement with the South African Municipal Workers' Union, as this would pose a major risk to both the municipality's finances, and the broader economy.

SABC News Economics Reporter Nosipho Radebe has more on this story.

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