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This means that a payment of the stated size is insufficient to repay even the interest on the debt, meaning the total debt actually increases each month instead of falling. When an organisation (or government) is in this situation it is said to be in a "debt trap" from which it is very difficult to escape. In the mid-term budget policy statement delivered on 1st November 2023 the South African government disclosed that the national debt had reached the point where one rand in every five rand collected in tax was being used just to pay the interest on its outstanding debts. This puts the government very close to "negative amortisation"

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