The City of Johannesburg, which is on the verge of financial collapse, put investors at the front of its queue of creditors this week when it repaid a 1.44 billion rand ($88 million) bond.

The city, South Africa’s biggest, owes state power and water utilities hundreds of millions of dollars and is facing a threat of power cuts due to unpaid bills. The councilor responsible for transport this week issued a statement saying there was no money for fuel so all road repairs have come to a halt.