March 31, 2017 / 8:22 AM / 5 months ago

South Africa CDS jump 24 basis points after finmin exit -IHS Markit

LONDON, March 31 (Reuters) - The cost of insuring South African government debt against default hit the highest level in 15 weeks on Friday after President Jacob Zuma sacked his Finance Minister Pravin Gordhan as part of a wider cabinet reshuffle.

Five-year credit default swaps (cds) jumped 24 basis points to 223 bps from Thursday's close of 199 bps, according to data provider IHS Markit. (Reporting by Karin Strohecker; editing by Marc Jones)

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