This is a welcome boost after violence tarnished the country's investment reputation. The long-awaited debut - first announced in June but not officially effective until today (1 Oct) - puts South Africa alongside 22 other countries on the index, which are tracked by an estimated $2 trillion worth of funds.
Citigroup said this week that twelve South African government bonds with a market value of $93.82 billion will be included in the WGBI, representing 0.45% of the index. The inclusion also offers some comfort to President Jacob Zuma's government as it reels from a wave of strikes - mainly in the key mining sector, which helped prompt a credit downgrade from ratings agency Moody's this week. Analysts reckon WGBI-related demand has accounted for much of the nearly R71b worth of bonds purchased by foreign accounts so far this year - nearly double the R41b bought over the same period in 2011, Independent Online reports.
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