In South Africa, we had the space to provide a sizable monetary policy stimulus unlike central banks in  1/2  BIS - Central bankers' speeches  advanced economies which were stuck at the zero lower bound. But we had limited fiscal space due to the fiscal decisions in the post Global Financial Crisis period. 3. Inflation is bad.
Many governments, including ours, faced mass protests against high inflation (and not high interest rates) in the post crisis period. 4. Borrowing in foreign currency during good times should trigger consideration regarding the ability to pay during bad times. In addition, the cyclicality of commodity revenues makes them an inappropriate source of continuous funding to meet short-term obligations (interest payments on debt).